What is a SSAS (Small Self Administered Scheme)?

A SSAS, or Small Self Administered Scheme, is a type of UK occupational pension scheme. A SSAS is set up by a trust deed and rules and allows members / employers, greater flexibility and control over the scheme’s assets. A SSAS is usually limited to members who are likely to be Directors or key employees of a company – which is known as the ‘sponsoring employer’.

HM Revenue & Customs now refer to a SSAS (and SIPP) as an “investment regulated pension scheme”. A SIPP (normally “contract based”) where one or more of its members is or has been able (whether directly or indirectly) to direct, influence or advise on the manner of investments held for the purposes of an arrangement under the scheme relating to the member. It also applies where the condition is satisfied by a person related to the member. For a SSAS an investment regulated pension scheme is one which has at least one member who meets the self-direction condition above, and where there are fewer than 50 members.

Contact us for more about SSAS.

 

0 comments on “What is a SSAS (Small Self Administered Scheme)?
  • 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 D.B.PML always puts my interests first. Being a fairly cynical type, I have not always found it easy to be convinced that the pension adviser I am talking to for advice and guidance is genuinely prepared to put my interests before his own potential earnings from commission!
  • When a Small Self Administered Scheme replaced a SIPPThere are many differences between what a Small Self Administered Scheme (SSAS) and a SIPP are allowed to do. This case study shows how armed with that knowledge we were able to recommend a SSAS as the right and most effective solution to the needs of two of our existing» Read More