A SSAS is an employer-sponsored
pension scheme,
which allows
company directors
and senior employees
to have full
control over
their pension
arrangements
within a tax
efficient environment.
The trustees can invest the SSAS assets in whichever investments they consider appropriate within the ambit of HM Revenue & Customs investment rules. The fund can, in part, be lent back to the sponsoring company and/or used to purchase the company's premises. The trustees can borrow and lend funds on commercial terms - the limit for both lending and borrowing is 50% of the net assets of the SSAS .
Flexibility and control continues throughout the lifetime of the SSAS, as upon retirement, pensions can be paid from the fund on a very flexible basis through income drawdown (as unsecured pension, up to age 75, and as alternatively secured pension after age 75) or by purchasing an annuity.
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