S S A S
Small Self Administered Scheme
“Providing the tools to grow and the power to retire”
Is a SSAS Pension right for me?
A SSAS pension can be set up by the Directors of a UK limited company, for the benefit of those Directors and their families. It is a “Small Self Administered Scheme” and as the name suggests, allows you to take a more active role in how the scheme provides for you and what investments it makes (within pension rules of course).
Contributions paid into the scheme qualify for tax relief, and investment income and growth is free of tax. From age 55 you can take a quarter of the fund free of tax, the remaining fund will be subject to income tax at your marginal rate. There is no limit on the amount of income that can be paid out.
The funds on death can be paid out to your family. There is a lifetime limit that can be built up plus you can, subject to advice, transfer in most other pensions.
A SSAS offers a number of key features that could particularly benefit a Company and its Directors; such as
Tax efficiency and planning
Maximizing contribution levels
Selling your business