How does a SSAS work?

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.

Contact us for more about SSAS.

0 comments on “How does a SSAS work?
  • 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 C.CPML set up our SSAS in 1998 and has looked after us ever since. The relationship started when our accountant suggested to my business partner and me that we should consider using an independent financial adviser to best place the monies in our pension plans rather than leave them with one large international insurance company.