Small Self Administered Schemes

Traditionally the preserve of employer sponsored pension arrangements, in pretty much all areas, the tax rules governing contribution limits, permitted investments and how benefits are taken are the same as those applying to SIPPs.

However, whereas a SIPP is an individual scheme, a SSAS can be run as a 'group' arrangement and no longer has to be 'sponsored' by an employer, instead the sponsor could be a group of individuals, either in business together or as a family. The benefits of such an arrangement can be multiple members within on scheme, potentially with some cost savings.

For employers, there is still the opportunity to 'self invest' to a small extent within the company, a facility not currently available through a SIPP.

City Trustees are also able to take on existing SSAS arrangements, for example where the previous professional trustees have resigned.