SSASs can provide a tax efficient means of generating retirement income, especially for directors of owner-managed businesses. Employer contributions to SSASs funds are normally treated as a business expense. They can also be varied annually depending on your company’s profitability and cash flow year-on-year.
Other advantages specific to SSASs are that they can lend funds to the employer, acquire commercial property for occupation by the employer, borrow to assist with property purchase and acquire shares in the employer’s business.
Because members of the scheme are Trustees, this means that for family owned businesses they are creating their own Family Pension Trust. This gives the members more control compared to being a member of a SIPP.
The Financial Services Authority does not regulate SSAS’s.
Member of the Association of Member-Directed Pension Schemes
Authorised and regulated by the Financial Services Authority
(SIB No: 133515)