The primary reason to consider a SSAS (Small Self-Administered Scheme) pension is control. Control comes about because the scheme is Self-Administered. This means that a SSAS pension is essentially all about you!
As an owner director, HMRC rules give you the ability to start a SSAS pension. You can then transfer your previous frozen workplace and personal pensions to the scheme.
Taking control doesn’t mean a large time commitment and it doesn’t demand expert knowledge. A small amount of input from you allows you to build a flexible, tax-efficient pension fund that will give you retirement security. No longer do you have to contend with hidden and elevated fees, confused and bundled together investments and a lack of transparency when it comes to where your pension funds are invested.
A SSAS pension is a multifaceted tool for adding value to your pension and gives you the flexibility to achieve your personal financial strategies and goals and can be used to help support your business.
A SSAS is not complicated. It is a very logical and straight forward business tool. With the right support and guidance, you can very quickly take control and increase your ability to invest and grow your funds.
But why should you consider setting up a SSAS?
- You gain control. You have access to your pension funds (but not as direct income before the age of 55)), which can be leant to your company or to unconnected third parties, or invested as you wish.
- A SSAS can purchase a commercial property. It could be your landlord and your pension benefits from the rent you pay.
- Any pension contributions made by your company into your SSAS reduce the corporation tax you pay.
- All invested funds from the SSAS grow in a tax free environment.
- Fees are minimised – the SSAS pays fees as one whole, not per member of the SSAS.
- You can set strategies and goals for your investments and forecast their outcome, meaning you can plan for the retirement you desire.
- Funds you intend to use to fund your retirement that are kept within your SSAS are far more tax efficient than those you keep within your business.
- A SSAS is afforded all the same benefits other pensions offer.
To help you find out more about a SSAS Pension visit www.astonleigh.com/videos. Here you will find a series of short videos that answer the questions we most frequently get asked.
Call us on 07834 600024 or email email@example.com and we’ll arrange a time to talk.