Home›FAQ›Who is suited to a SSAS and what is the difference between a SSAS and a SIPP?
Who is suited to a SSAS and what is the difference between a SSAS and a SIPP?
SSAS are suited to either an individual or a group of individuals who run a common business and wish to have complete control over their pension fund. For a group, the costs per member are usually lower than using individual SIPPs to pool funds to purchase commercial property.
Unlike a SSAS a SIPP member does not have any ability to grant a loan to a connected party, neither may they normally pool their investment interest and holdings. For these reasons a SSAS is normally favoured by members who are happy to have and can share a common interest and the incumbent responsibilities.
There is no requirement for a professional to be appointed to a SSAS, however the rules are complex and may well prove difficult for individuals without experience of running a SSAS.
SSAS and Legal Entity IdentifiersWhat are Legal Entity Identifiers and Does Your SSAS Need One?
From 3rd January 2018 it will be a requirement for legal entities and structures to obtain a reference called a Legal Entity Identifier (LEI) from the London Stock Exchange in order for the trustees of a SSAS to carry on investing. This» Read More
Mr M.P.On retirement, I had a mixture of personal pensions, the remains of a final salary pension scheme and a pension fund pot from a Group Money Purchase Scheme. I was uncertain as to what I needed to do and how to go about doing it, which led me to turn PML for honest advice and guidance. PML sorted out my complex pension arrangements.
How a SSAS helped a business to expandOur client wanted to expand
The opportunity arose for our client to acquire and develop a plot of land adjacent to their business premises. This coincided with an ambition to purchase an expensive item of machinery to assist in the Company’s ambitions to expand. The Company had insufficient funds to do» Read More
