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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