A Small Self-Administered Scheme (SSAS) pension is a flexible business tool that saves you tax, funds your business, and allows you to invest at the discretion of scheme members
To find out more about SSAS, investments a SSAS can make, SSAS regulation and more about The Landlord’s Pension full SSAS service, please click on the SSAS frequently asked questions below.
A SSAS is pension trust that gives its members control of their pension funds and assets. A SSAS allows members to invest funds at their own discretion.
A SSAS has access to every type of investment that is allowed under rules set out by legislation, as with traditional pensions. In addition, a SSAS has additional investment privileges, such as investing in property or investing in your business, amongst other things. You can make permitted investments at any age; you do not need to be 55 to take control of the money in your pension.
A SSAS Practitioner is a person or a company that helps with the setup of a SSAS. The SSAS Practitioner is not a responsible role.
SSAS pension funds can be invested in many ways. The SSAS can invest in everything that traditional pensions can, with the same tax benefits, plus much more. For example, invest in property, loan to your business, start property crowdfunding and much more.
The Landlord’s Pension take the time to understand your situation, strategies and goals. We then support you by providing the knowledge and tools to ensure your longer term SSAS strategies are working to grow your SSAS, support your business and achieve the retirement you desire. We are able to offer expert pension, property investment, tax and investment strategy advice and support. To book a free, no-obligation consultation at a time to suit you, please Click here.
SSAS stands for Small Self-Administered Scheme. This is a corporate pension scheme that is managed by trustees of the scheme. It can be set up by company directors. Members of the SSAS can choose how their pension funds are invested. It gives all members of the SSAS scheme more control over their pensions.
A SSAS is a pension trust that gives its members control of their pension funds and assets. A SSAS allows members to invest funds at their own discretion.
A SSAS has access to every type of investment that is allowed under rules set out by legislation, as with traditional pensions. In addition, a SSAS has additional investment privileges, such as investing in property or investing in your business, amongst other things. You can make permitted investments at any age; you do not need to be 55 to take control of the money in your pension.
A Small Self-Administered Scheme (SSAS) is a pension exclusively for business owners/company directors. The company director sets up the SSAS and is then able to invite up to 10 other members to be part of the scheme. Members can be other company employees or family members.
Yes. Fees and costs can be paid by the SSAS or by the company.
There are no drawbacks to a SSAS pension. A SSAS gets all the same benefits as any other UK pension scheme, such as tax breaks, lifetime limits, drawdown age and 25% tax free cash at age 55, along with the new flexi-drawdown rules. A SSAS is the ultimate director’s, property and business pension.
Most people take little interest in their pensions but when they realise all of the benefits of a SSAS and how the money locked in a pension can be used by SME directors, small businesses and families, the SSAS pension suddenly becomes a very attractive tool to have as a part of your business plans.
Timescales can vary, depending upon relevant checks and paperwork required. Requesting your pension transfer values and setting the transfers in motion quickly will help. It can take a number of weeks to register your SSAS with HMRC and ensure everything is up and running correctly.
A SSAS is an ideal tool for family businesses and as a family trust. HMRC rules allow family members to be invited to be members of the trust. Having a family SSAS is extremely useful for inheritance planning. With a family SSAS, tax efficiency can be optimised. As pensions are pooled, a family SSAS has great flexibility with regard to taking benefits at retirement and asset transfers. Assets can be held within the SSAS and taken as benefits or left in the SSAS as part of the legacy, as cash benefits are taken when a family member retires. For family businesses, the SSAS allows greater business continuity as family members retire or join the business.
No. The SSAS has been around for over 40 years. It was designed by HMRC, exclusively for company directors to give them more control over their pensions and support businesses.
You are able to invite up to 10 additional members to the scheme. Members can include other company directors or employees or family members.
No, not necessarily. Each member retains the proportion of the pot that they put in. As the pot grows, so does each individual proportion.
SSAS pension funds can be invested in many ways. The SSAS can invest in everything that traditional pensions can, with the same tax benefits, plus much more. For example, invest in property, loan to your business, start property crowdfunding and much more.
TLP take the time to understand your situation, strategies and goals. We then support you by providing the knowledge and tools to ensure your longer term SSAS strategies are working to grow your SSAS, support your business and achieve the retirement you desire. We are able to offer expert pension, property investment, tax and investment strategy advice and support. To book a free, no-obligation consultation at a time to suit you, please Click here.
Yes. A privilege of a SSAS pension is that it can invest in commercial property. Read more…
A SSAS cannot directly invest in or hold residential property. It can purchase development land and sell prior to the building becoming habitable. An alternative is to invest in residential property in a hands-off manner. For example, you can loan to an unconnected developer or you can loan to your company and use the loan to invest in any business purpose you see fit. A SSAS can also invest in property crowdfunding. Read more…
A SSAS is able to make 3rd party loans. This means to parties that have no connection with the SSAS.
Loans directly to a SSAS member, or to a spouse or relative of a SSAS member are prohibited.
Using the SSAS’s unique loanback facility, you can make loans to your company of up to 50% of the total combined fund value. This can be repeated once the loan has been repaid.
Yes, with only a few exceptions, current personal and workplace pensions can be transferred to a SSAS.
To make a transfer, simply contact your existing pension provider and ask them to transfer the old pensions into your new SSAS. Your old pension provider will send some paperwork in the post which you will need to sign and return to them.
Always consider any benefits you are giving up by transferring your old pension as these may be lost when you move the pension. Your current pension provider can provide this information in writing or over the phone.
Contributions can be paid in as a lump sum or regular contributions. Employer contributions can also be made.
Yes. This is just one of the great advantages of a SSAS pension. Consolidating your current pensions has many benefits, such as increasing your investment funds and choices, reducing costs as there is then only one set of fees/charges, and making your pensions easier to monitor.
Yes. Pooling the pensions of other members within the SSAS increases the pot and investment choices and its potential for growth. It also means that only one set of fees/charges per scheme is payable, as opposed to individual members all paying their own sets of fees.
A SSAS is regulated by The Pensions Regulator and must abide by rules and regulations set out by HMRC.
One of the great advantages of a SSAS is that members have more control over their pensions than with other pensions. As a trust, investments are made at the member’s discretion for the benefit of its members.
Whilst this partly allows a SSAS to self-regulate, a SSAS is also regulated by The Pensions Regulator. In addition, it must be registered with HMRC and abide by HMRC rules and regulations.
SSAS pensions are regulated by HMRC & The Pensions Regulator.
You can also read more here – https://thelandlordspension.co.uk/ssas-pension-regulations/
A SSAS Practitioner is a person or a company that helps with the setup of a SSAS. The SSAS Practitioner is not a responsible role.
Usually, the Scheme Administrator will register the scheme with HM Revenue & Customs (HMRC)
The Scheme Administrator will report to the HMRC and provide information or responses to HMRC queries
The Scheme Administrator will provide reports and information to the scheme members and relevant regarding lifetime allowances, benefits and transfers
The Scheme Administrator will undertake tasks to ensure the current maintenance and tax position of the SSAS.
A SSAS does not legally have to have Professional Trustee, but each SSAS does require a Scheme Administrator (the administrator is an official role required by HMRC for Registered Pension Schemes).
When setting up a SSAS with TLP, we strongly advise having a Professional Trustee. Specialist knowledge of pensions and tax is important to ensure the SSAS is administered correctly and in accordance with HMRC requirements and legislation.
You can take our quick 60 second eligibility test to find out, or you can get in touch with us on 01235 426666 or by emailing enquiries@thelandlordspension.co.uk
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Highly recommend The Landlords Pension for setting up a SSAS pension. Many Thanks to Liam, Michelle, Teresa and the team for their support throughout and making it an easy process. Looking forward to our working relationship with future investments.
Wouldn’t hesitate to recommend there services to open a SASS, massive thanks to Dan, Michelle and Teresa who made the setup seamless, very supportive throughout the whole process.
Look forward to many years of successful investments with The Landlords Pension
Highly recommend The Landlord’s Pension for opening a SSAS. They are highly professional yet friendly and personable. They are really helpful and keep you informed every step of the way. It’s refreshing to pay for a service by a company who actually do what they say they are going to, with zero aggravation and problems! Thank you guys 🙂
I recently opened my SSAS through The Landlord’s Pension and they have been professional, approachable and efficient throughout. Simon, Teresa and Michelle have all been great in answering my questions and queries and doing their best to ensure the process of transferring over my existing pension has been a smooth and seamless one. I would have no hesitation in recommending them.
I’ve been working with The Landlord’s Pension this year to sort out historically messy pension arrangements and take control by creating a Family SSAS. Chris Brown has been an absolute pleasure to deal with, friendly professional advice all the way through. Thanks!
We had a number of workplace and final salary pensions, dotted all over the place and decided to pull them all into one SSAS. Laura and the team were excellent in explaining what to expect and keeping us advised every step of the way, in fact as part of the fact-find, we came across pensions we didn’t realise we had! I manage my own SSAS, but I know that Laura is at the end of the phone if I need her and she will not hesitate to help. I couldn’t recommend The Landlord’s Pension enough, they were absolutely brilliant!
© 2021 TLP. The Landlord’s Pension is a company registered in England and Wales with company no. 12775174 with HMRC to form trusts, companies and to administer pension schemes. The Landlord’s Pension, Trident House, Trident Business Park, Didcot, Oxfordshire, OX11 7HJ
