Corporate Financial Services
A Small Self Administered Scheme (SSAS) is a small Group scheme set up under Trust by a principal employer for a maximum of eleven members. The members and Trustees are both usually Directors of the company or senior employees.
A SSAS is a pooled arrangement whereby contributions (usually from the employer) are paid into a single fund which is available to provide benefits to all of the members. The Trustees will determine the benefits to be paid out to each member on retirement or death
It can invest in all permitted pension investments including Commercial Property (which may be the principal employers business premises) and can also provide a loan back to the principal employer of a value up to 50% of the scheme assets - subject to certain rules and restrictions.
These types of contracts are similarly priced to SIPPs which now also offer most of the same benefits and flexibility under Group arrangements as a SSAS and are increasingly being used instead of them.
However the ability to loan back to the employer is unique to the SSAS so in some instances this type of plan can still be more appealing to Directors of a company.
For more information on our SSAS services, please contact us or request a call back.
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