Are you a business owner, director or in a partnership? A small self-administered scheme (SSAS) pension could be an excellent choice. A SSAS pension allows up to twelve members to save for their future and provide capital for their business.
What is a SSAS Pension?
A SSAS (small self-administered scheme) is a type of group pension scheme for 1 to 12 members. Typically these members are directors or employees of the same company, but family members are also eligible to join. All members of the scheme become trustees and make joint decisions on investment choices. It’s a tax-efficient and flexible way for members to save for their future, while having a significant amount of flexibility, including funding their own business.
What are the benefits of a SSAS Pension?
- Invest your pension assets with a great deal of flexibility
- High level of control for the pension scheme members
- As with other pension arrangements, you receive tax relief on company and personal contributions
- You can lend money to companies connected to the members, providing a great way to finance your business
- You can purchase your company’s trading premises and lease it back to the company
- You can purchase other non-residential property and access investment opportunities
- You can borrow money within the pension providing additional liquidity for investment purposes
Inject funds into your business
To grow sustainably, all businesses depend on cash-flow. Unlike other types of pension, a SSAS allows you to invest directly from the scheme into your business. You can lend 50% of the total value of the fund to your organisation at a commercial rate of interest.
Enjoy the freedom to make flexible investments
It’s not just your own business into which you can invest. You can loan funds to other businesses and individuals; it just needs to be secured by an asset. You can also invest in non-residential property, land, bonds, listed shares, investment trusts, funds and much more.
How can Prydis help?
Thanks to an integrated team of financial, business and legal experts, we have the expertise to help you manage your SSAS fund effectively and efficiently. We can assist you with establishing the right structure, transferring in your other pensions (including defined-benefit or final salary schemes), and executing any investment transactions once everything is in place. We truly understand the needs of business owners and our unique understanding of accountancy means we can point out planning opportunities that other advisers may miss. We give our clients the ability to monitor their investments via our secure online portal. And thanks to our prestigious Chartered Financial Planners designation – the gold standard for financial planning firms – you can be confident that we are offering the best of advice.
Please note, SSAS pensions are different from other forms of pension and may not be suitable for everyone. Before establishing a SSAS there are specific factors you need to be aware of, and you should seek advice from a professional financial adviser who is familiar with this type of arrangement.
For more information about building towards your financial future with Prydis, get in touch or call our Exeter office on 01392 432431 or our London office on 0203 8239059.