A Small Self-Administered Scheme (SSAS) is a type of pension scheme that is set up by an employer usually for a select number of directors. It differs from a Self-Invested Personal Pension (SIPP) in that it is a separate scheme for the employer and our costs are charged per scheme rather than per member.
Who is it for?
You may be particularly interested in a SSAS if you are a business-owner and wish to use existing and/or future pension monies to interact with your business or simply wish to have a pension arrangement that is not tied down to one provider. Your SSAS would be able to own your company premises for leaseback or lend monies to your company so that you pay loan interest to your own pension rather than to your bank.
Why would you want one?
A SSAS gives you complete control over who you select to provide services to your pension scheme. We would take care of the scheme administration and due to the nature of SSASs we would act as a professional trustee to assist in the process and to guide you generally in relation to the scheme. You would be free to choose your own scheme bankers, investment advisers, solicitors, accountants and investment providers as you see fit.
What it costs
There is a one-off fee for providing the documentation to set up a SSAS and after that a regular fee for acting as a trustee and administrator and to cover any other pieces of work that arise – such as retirement planning, provision of loan documentation etc.
A wide range of investments
One key reason why a SSAS are so popular is that they offer a wide range of investments that may be selected by the pension holder or their adviser.
Lending your pension money to your company
Uniquely, funds in SSASs can be loaned to the sponsoring employer provided certain criteria are met and loans to do not exceed 50% of fund value. If this is of interest to you, we would be pleased to discuss further.
What is a SIPP?
- Stock Exchange listed Companies
- Unquoted shares
- Unit trusts and Open Ended Investment Companies (OEICs)
- Government Securities
- Commercial Property – e.g. hotel rooms
- Land – e.g. woodlands and forests
- Hedge Funds
- Contact Save & Prosper Company Limited today for impartial, confidential and expert advice from our panel of leading experts who specialize in the field of Trust Planning.
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