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.

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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 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