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Small Self-Administered Scheme

A Small Self Administered Scheme (SSAS) is a company scheme where the members are usually company directors or key employees. A SSAS is set up via a trust and the rules allow members / trustees greater flexibility and control over the scheme's assets. The members will also act as the trustees of the scheme. SSASs are not regulated by the Financial Services Authority (FSA). They can be set up for just one member or for a number of members.

Many of the same rules that apply to SIPPs also apply to SSASs, including:

  • Contributions and tax relief
  • Wide range of investment options
  • Flexible pension benefit options.

Benefits of SSAS

  • Control - With the members as trustee the SSAS can operate, with our expert administration and support, under their control.
  • Borrowing – Subject to certain conditions, a SSAS can borrow up to 50% of the value of the scheme's assets.
  • Loanbacks – As an employer sponsored scheme a SSAS can make loanbacks of up to 50% of the fund value to the employer subject to the loan plus all interest due being secured as a first charge on assets put up as security. Loans to third parties can also be made but with fewer restrictions
  • Funding – The employer may fund the Scheme without the requirement to specify at the outset how contributions should be applied in certain circumstances. This enables the common trust principle under the SSAS to prevail, giving trustees a degree of flexibility that is not possible under a SIPP. Funding can be linked to company profits and can vary year on year.
  • Cost – A SSAS can be cheaper for multiple members than multiple SIPPs.

Who can apply?

As a SSAS is an occupational scheme any member of the company can be asked to join the scheme. Typically members are company directors or key employees.

How to Apply

Please contact our Business Development Team at

businessdevelopment@alliancetrust.co.uk for more information about the Alliance Trust Savings SSAS, including how to apply.

Charges

A full schedule of our charges can be requested from our Business Development team at businessdevelopment@alliancetrust.co.uk

A SSAS, depending on the number of members, can often be more cost effective than a number of individual SIPPS. For instance, to establish as SSAS there is;

  • An initial fee of £500 per scheme, plus
  • Individual member fees of £250 per member
  • Annual charge of £600 per scheme, plus
  • £250 per member

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