The sponsoring employer of the SSAS pays money into a separate bank account specifically set up in the names of the trustees. The money in this account is invested and grows with interest, dividends, rents and further contributions. In addition any asset purchased or transferred ‘in specie’ may increase in capital appreciation to build member funds within the SSAS.
At retirement, the SSAS fund is used to provide each member with a tax free pension commencement lump sum and an income in retirement. The whole operation is managed by the trustees, who are initially appointed by the sponsoring employer.
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.
Setting up a SSAS (Small Self Administered Scheme) to buy commercial propertyOur Client wanted to sell his business premises
One of our existing SSAS (Small Self Administered Scheme) Clients had put the premises which his Company traded from on the market. The premises were owned by his SSAS and the objective of the sale was to release funds so that he could» Read More
