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Why SSAS pension plans are making a comeback

Why SSAS pension plans are making a comeback

In the pension plans market, the Self-Invested Personal Pension (SIPP) has recently proved more popular than its counterpart, the Small Self-Administered Scheme (SSAS). However, SSAS pensions offer an array of advantages, particularly for business owners or company directors.

As pension schemes, SIPP and SSAS are similar in many respects, but there are some key differences which make them suited to individuals with different personal circumstances.

SIPPs are personal pension plans where the provider acts as the trustee. Anyone can set one up as long as they meet the eligibility requirements, and they are perfect for those who wish to take greater control over the investment of their pension scheme, typically higher earners and professionals.

A SSAS is an occupational pension scheme, which offers directors or key members of staff greater control over the investment decisions relating to their pensions. Members are usually trustees, and unlike SIPPs, a SSAS pension can be used to lend money to the business.

This latter feature makes SSAS pension plans extremely relevant in today’s unstable economic climate, and can provide an effective solution for some of the funding issues that businesses today might face.

Kerry Houghton, business development manager at Taylor Patterson, said: “One of the main attractions of a SSAS is the ability to loan money from the fund to a connected business, providing a cost-effective borrowing solution.

“As banks have restricted lending, small business owners have found that investing in a SSAS pension plan is a viable funding option.”

SSAS pension plans also offer a range of other features which benefit company directors and key employees.

Kerry adds: “The SSAS allows members to purchase commercial property and lease it back, and if the property is owned by the company, it allows the business to exchange an illiquid asset for liquid cash. This has additional benefits, such as protecting SSAS-owned property from capital gains tax and company creditors when times are hard.

“The advantages of the SSAS are too good to ignore, especially for small businesses. The 100 per cent increase in sales of the Taylor Patterson SSAS has shown that it is really making a comeback.”

Taylor Patterson has developed its own SSAS product, which offers:

  • Flexible investment options, such as property, stocks and shares
  • Variable pension contributions, therefore maximising profitability
  • Provisions for older members, for example, by drawing a pension from the rental income of invested properties
  • Protection for assets such as commercial property
  • Higher income withdrawal limits than other pension options
  • Consolidation of funds in one pot through transfers from most other types of UK pension schemes

Kerry says: “SSAS pensions have a multitude of possibilities for small businesses, but the details can be complex, so we are always happy to meet with you to help identify the best arrangements for your clients.”

For more information on SSAS pensions or other alternative pension schemes, please contact Taylor Patterson’s dedicated team of SIPP and SSAS technicians and administrators who can assist you further on 01772 555 073 or email


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