Peter Birkinhead
Wrapid Engineering. Chairman
A Small Self Administered Scheme (SSAS) is an individually registered pension fund, which generally needs a company to sponsor it.
It operates in the same tax-efficient manner as a Personal Pension, combining the investment and income flexibility of a SIPP.
The key difference over a SIPP is that a SSAS is one pension arrangement with the opportunity for multi membership.
It is therefore ideal for business owners, senior employees of private limited companies and family owned private limited companies, as it allows the company pension fund to interact directly with the business. Key advantages include:
- Economy of scale
Instead of having numerous SIPPs, a SSAS provides the same investment flexibility for up to 12 members, within one arrangement. - Loanback facility
This allows up to 50% of the net SSAS pension fund value to be loaned to the principal employer: More information - Commercial Property Purchase
The fund can borrow up to 50% of its net value for property purchase: Commercial Property in Pension Case Study
As with a SIPP, a SSAS provides the opportunity to have:
Investment Options
A SSAS, like a SIPP, has the ability to invest in a wider range of investments, which also allows you to incorporate your retirement strategy into your business strategy.
Details of your investment options can be found under What
can a SSAS invest in?
Boolers Wealth Management service.
Commercial property purchase Case Study
Flexible income options
A SSAS has the flexibility to adapt to key milestones through your life. Some of the main features of how a SSAS does this are:
- The ability to increase and decrease income levels through retirement.
- The flexibility to defer or completely avoid the purchase of annuities at retirement.
- The option to take a Tax Free Cash Lump Sum and defer taking an income (from age 55 as of 6th April 2010).
- Greater control over your pension fund assets through retirement.
Bespoke Advice
A bespoke SSAS comes with advice and support to integrate within your overall wealth strategy. Each individual has different needs depending on their personal circumstances, existing pension provision and income tax position.
Our experience and long term technical background places us in a unique position to provide individual advice.
For more detailed information on our bespoke services please refer to: The Boolers SSAS Focus. If you wish to discuss your options in greater detail please contact us.
