A Small Self Administered Scheme (SSAS) would be of particular interest if you are a business-owner and wish to use existing pension funds and future contributions to assist your business or simply wish to have a pension arrangement that is not tied down to one provider. The SSAS allows control and autonomy over your pension planning and provision as well as providing significant flexibility and choice over investments. Furthermore it offers the ability to provide support and investment to your business.
For many clients it also offers a valuable tax planning tool both personally and for the business given the preferential treatment of company and personal based contributions. This can assist in reducing your personal tax liabilities and corporation tax bills whilst at the same time promoting your financial security in retirement. A SSAS offers a new level of investment access and diversification not available in traditional personal pensions or group schemes. For these reasons and many more SSAS’s a far becoming the pension of choice for Small to Medium companies.
For many, true autonomy, control and flexibility are paramount as many providers of SSAS’s purport to provide this but then impose significant restrictions on the flexibility of the SSAS and investment access. This results in a scheme that doesn’t do as it said on the tin when you set it up, which can then often be too late. As the name suggests “Self Administration”, the heart of a SSAS is having this control which again can often be restricted under many off the shelf schemes. They will typically insist on being a trustee and administrator of the scheme thus retaining all investment control. You are forced to seek authorisation off them for anything you wish to invest in. This strips away the control and flexibility you sought in the first place and they also charge for the privilege of sanctioning your investments.
The role of a Trustee of the scheme isn’t to be taken lightly and many off the shelf schemes provide impeccable back up, support and administration to facilitate this.
As a result of demand for a SSAS with the full control & autonomy whilst having access on your terms to the administration support needed we have designed the perfect solution.
Given our extensive experience in providing family and corporate trust solutions we are able to bring together the professional experience necessary to create individual bespoke SSAS scheme’s for every client. You now have the Freedom to choose whether you want a Professional Trustee instead of having this decision forced upon you. We can organise the expertise necessary to run the scheme compliantly but again you are offered the Freedom to take this elsewhere if needed once set up. We provide no restrictions in the scheme on the investments so the full list of HMRC approved assets are available to you.
