How much does a SSAS Pension cost?

How much does a SSAS Pension cost

Substantial fees are normally what you can expect when it comes to SIPP or SSAS pension planning, unless of course you take control of the process and do it yourself just like entrepreneur, Maneesh Patel.

Maneesh Patel, entrepreneur

Having been presented with some proposals that were going to cost him the best part of £30,000 in arrangement, investment and transfer fees, Maneesh decided to look at a business pension known as a Small Self-Administered Scheme (SSAS) with the help of The Landlord’s Pension, a company that specialises in SSAS pensions. He was pleasantly surprised to find out that by taking control himself he would have no transfer fees and a low annual fee of just £300.

The situation that Maneesh found himself in is not one in isolation. All too often people are charged substantial fees for ‘pension reviews’ and are then told that they fail at the first hurdle having paid the fee, or that they must undertake certain courses to be able to manage their own investments. It’s simply not the case. If you can run your own business, then why on earth shouldn’t you manage your own money?

Maneesh Patel, Director of DPS Group, took the decision to go it alone when it came to his pension money. “Why would I not take control of my own pensions?” he asks. “Even though the DPS Group is a very successful printer, inks and paper dealer for global brands such as Epson, HP and Canon, we are still a relatively small business at heart, keeping a keen eye on costs and the latest market developments. I have used a similar strategy when it came to my pensions, and a low cost SSAS was the best solution for me. The DPS Group is successful because I make the decisions. I now make the decisions with my pensions and have chosen to invest in property”.

SSAS pensions work in harmony with your business and to establish a SSAS pension the only qualifying criteria, is that you are the Director of your own trading limited company. The pension scheme needs to be registered with HMRC (a process that The Landlord’s Pension can help with) and when this is done you can immediately start to make new contributions or transfer in old pension schemes from former employers. The money can then be used within your business for stock or property purchases, to consolidate or pay down debt to improve cash flow or for investment purposes.

The Landlord’s Pension offer a free initial consultation and have been successfully helping people invest in property since 2004.

Company Director Gareth Bertram offered the following guidance for people considering a SSAS as a part of their property business planning; “As with most business decisions, don’t accept the first proposal that is put before you. We have a 5-star rating for a reason; we put the client first. In the free initial consultation, we just ask questions and listen to what the clients’ goals are. We’ll then tell them if we can help or not”. Gareth continues “Our team of SSAS consultants are busy so there’s no point in us dragging matters along. We want to be able to say to people as quickly as possible – yes, we can help you, or no we can’t.”

If you’re thinking of establishing a new SSAS pension speak to a SSAS consultant by phone today by calling 02039078400.

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