SSAS
The Small Self Administered Scheme is a type of UK Occupational Pension Scheme
These trust-based schemes are established individually, usually by directors of limited companies, for specified employees of the company. Membership is generally limited to no more than 11 members, who are often company directors or senior executives, although such schemes are also open to other workers and even their family members.
Why may a company choose an SSAS?
SSASs are frequently chosen by companies due to the greater flexibility that they can offer with regard to where the scheme’s assets can be invested. There are certain assets that an SSAS can invest in that generally can’t be invested in by many other types of scheme. For example, an SSAS can borrow money for investment purposes, subject to terms and conditions.Practical Application Example
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An SSAS provider can act as the scheme administrator, which all registered pension schemes must have. They can fulfil such important functions as registering the pension scheme with HMRC, reporting events relating to the scheme to HMRC, making returns to HMRC and providing information to members of the scheme. ”
