Do you run
your own business?
Would you like to use your pension to support
and grow your business right now?
Have you thought about protecting your hard-earned
pension fund for your children’s benefit?
Harsant Services can help you achieve all of this in a simple,
uncomplicated and professional way.
Small self-administered pension schemes are perfect for directors
and other key individuals within small and family run businesses.
They are tax efficient, low cost and allow directors to use
their pension to help run their companies more effectively.
Importantly, SSASs avoid many of the investment restriction
imposed on more conventional arrangements.
Self-investment is allowed providing an opportunity for greater
growth and total flexibility regarding where contributions
can be invested.
The fund can be invested in a number of ways - subject to
Inland Revenue regulations - including stocks and shares and
property.
In addition, the fund can raise a mortgage, lend to the business
and even buy shares in the company.
SSASs can provide senior executives and directors with a
first class retirement planning and management vehicle.
Such a scheme is also great for family businesses as when
parents die the fund automatically passes to their children
who are in the scheme.
How the SSAS works
The scheme: A trust deed establishes
the scheme. This includes the rules of the scheme, the benefits
and the circumstances in which it is payable.
As well as the member trustees, there must be a Pensioneer
Trustee (Harsant Pensioneer Trustees Ltd fulfil this role)
to ensure the scheme meets Inland Revenue rules.
Contributions: There are no
direct limits on company contributions to a SSAS. Instead
the Inland Revenue currently limits the benefits members may
take at retirement. The employer’s contributions are
tax-deductible and do not attract national insurance. Members
of the SSAS may also contribute.
Investments: There are a wide
range of investment opportunities available to SSAS members
including stocks and shares, commercial or industrial property
and loans to the company.
Retirement Benefits:
Flexibility on when and how to take pension payments.
Harsant does not provide financial advice. We recommend you
consult an independent financial advisor before making any
pension decisions.
This information is subject to our understanding
of the current legislation.
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