What is a SSAS
and what are your options?
A SSAS (Small Self-Administered Pension Scheme) is a type of defined contribution pension. This is set up by an employer that is separate from the general workplace pension scheme but gives the business additional investment flexibility.
A SSAS is like a Self-Invested Personal Pension (SIPP) in the way that the trustees decide where and how the funds are invested for future growth.
What is the difference between a SSAS and a SIPP (Self-Invested Personal Pension)?
Both are self-managed and reliant on the investment decisions of the owner/trustees. The main differences are:
Greater flexibility with the investments
Can lend funds back to the company
Run by trustees – not an individual
Usually only available to business directors or senior management
Anyone can open a SIPP
Higher running costs than an SSAS
The SIPP provider is the trustee
Cannot lend money to your business from a SIPP
Who can invest in a Small Self-Administered Scheme?
Small Self-Administered pension Schemes are usually set-up to provide retirement benefits for small business owners, directors or senior members of staff. They can also be opened up to all employees and their family members even if they don’t directly work for the business but generally limited to a small number of members.
How does a SSAS work?
As trustees of the company’s pension scheme, business owners or directors make the key decisions of where the funds are invested. The major benefit of a SSAS is the flexibility on where the funds can be invested, this may include the business’ premises and other fixed assets that could grow in value.
For example, the pension scheme could purchase the business’ premises and lease the property back to the business which would then pay a rental income to the pension fund. Of course, this would be subject to terms and conditions, so it’s advisable to speak to an independent financial adviser.
All of the SSAS’ assets are held in the name of the trustees – there are no individual pension pots for the scheme members to draw from, but each member is recognised to hold a percentage portion of the assets of the scheme.
Peace of mind
We work with all major UK pension providers allowing us to find the pension that helps you meet your retirement goals, and ensures your retirement is in experienced hands.
Why Pension Works?
No obligation, no pressure
Our Pension HealthCheck comes with No obligation and No pressure. If your pension is performing we’ll tell you so, and it won’t cost you a penny.
Independent and transparent
Pension Works are not tied to any pension provider. This allows us to stay independent and only select the most suitable and best-performing policies for you.
Regulated and ISO 9001 Accredited
We are authorised & regulated by the Financial Conduct Authority, and ISO 9001 accredited, meaning our advice will always be in your best interests.
Convenient and flexible service
Being a telephone and internet based business, we can provide independent and professional pension advice at a time that suits you.
Private pension specialists – your retirement is in experienced hands
ISO 9001 accredited – meeting the international standard for quality management
5 Star Trustpilot rating – consistent positive customer feedback
Independent & transparent – we are not tied to a single pension provider
Authorised and regulated by the Financial Conduct Authority – for your
peace of mind