What kind of regulations are there for SSAS?
A comprehensive guide to Pensions and Investments for Investing in Property
To a certain extent, a SSAS is self-regulating. It’s a trust, which means that it’s run by trustees for the benefit of its members. In practice, the majority — if not all — members of a SSAS will be appointed as trustees.
Any member of a SSAS can be a trustee. Most choose to be, but it’s certainly not a requirement
A trustee does not have to be a member of the SSAS.
In the majority of cases, an SSAS is run by the members for the members, meaning there’s no outside influence from trustees who are not members of the scheme. The rules of the scheme are set by HMRC.
Being a trustee comes with certain legal responsibilities. For instance, it’s the responsibility of a trustee to ensure that any tax owed is paid to HMRC. If any member of the SSAS doesn’t want this responsibility, they can choose not to be a trustee.
However, it’s worth considering the pros and cons of having members who are not trustees. Trustees have to demonstrate that they are acting in the best interest of all members of the SSAS. If all members of the SSAS are also trustees, this process is straightforward. If there are any non-trustee members, this can become complex.
Need specific pension investment advice?
Read our guides on SSAS Pensions:
- SSAS vs SIPP pensions
- What is a Self-Administered Pension?
- How To Set Up A SSAS pension
- What kind of regulations and protections are there for SSAS?
- What Can an SSAS Pension Invest In?
- What are SSAS death benefits
- HMRC Rules
Still unsure about something? Please don’t hesitate to contact us about enquiries relating to pensions and investments in property.
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Genuine professional people delivering top notch quality customer service accompanied with the all important experience and in-depth knowledge of this business field.Many thanks in particular to Gareth and Teresa for their unswerving support advice and guidance over these past few years since I took up the challenge of looking after... Read moreNick Clement
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Massive thanks to Laura and Teresa in helping set up the SASS. Great communications throughout and always on hand to answer queries.We are just about to embark on the investment side of things now the pensions have been transferred into the SASS and the range of investment opportunities give me... Read moreDamian Spencer
I've had a small pension pot with Landlord Pension for the last couple of years. There were two major reasons why I made my choice. Firstly fees. Secondly, I wanted to be hands off (as much as one can be) - working professionally within compliance and anti-fraud - segregation of... Read moreSylvia Snowling
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