The following information should be helpful to existing SSAS members, if you have a question that isn’t answered here then please get in touch.
If you have a financial adviser, then we suggest you speak to them in the first instance.
We are not authorized to give you financial advice. You can find advisers in your area using a service like www.unbiased.co.uk or www.findanadviser.org
From HMRC’s point of view, a registered pension scheme can invest in anything, but from a practical perspective investments are restricted by a number of things, including the scheme rules and whether they are likely to incur unauthorised payment tax charges. Your financial adviser will give you information and guidance on this. We will not be party to certain investments including those that, in our opinion, would incur unauthorised payment tax charges and the like.
Please send us the application form for the particular investment / investment account that you require, fully completed and signed by all the managing trustees, including the amount you want to invest.
Our pension plans are governed by Scheme Rules, which state that it is not possible to make a withdrawal from your pension scheme, unless it is to pay retirement benefits. See the Key Features brochure for more information on this, or contact your financial adviser.
Our SSAS administration team can be contacted on 01228 538 988 during office hours (08:30 to 5:00 Monday to Friday). You can also email the team at email@example.com
As a managing trustee (sometimes referred to as a member trustee) you jointly own SSAS property, in your capacity as a trustee. You cannot directly access / withdraw any SSAS investments, as they are held on trust for the beneficiaries. Your scheme is governed by various Deeds and Rules which are there to ensure it can comply with HMRC’s requirements for Registered Pension Schemes. Note that the scheme rules state that all decisions of the managing trustees must be made by unanimous agreement.
If this is a new payment (either an alteration to an existing regular contribution, or a one-off top up payment) then you should write to us or send an email to the SSAS team. We don’t operate Pension Relief At Source on SSAS schemes, meaning that all contributions are paid gross (individuals should reclaim any tax relief through their Self Assessment tax return).
Unfortunately information on SSAS benefits is not currently available online. We do have some general information and literature on our website www.investaccpensions.co.uk. If you would like any specific information about your pension scheme then please contact us, and we will be happy to provide it.
Although optional, we believe it is best practice for SSAS trustees to hold meetings, perhaps at the start of the scheme and on a yearly basis. If you would like someone from InvestAcc Pension Trustees Limited to attend your meeting, please let us know and we will make the appropriate arrangements. Note that attendance at a yearly trustees meeting is included in the annual scheme fee.
There has been a huge increase in firms purporting to give access to pensions “early” and outside of the rules designed for UK Registered Pension Schemes. This typically involves some sort of fraud, and very high charges. Customers are usually approached by text message, where their details are sold on to firms practicing Pension Liberation, which can be a type of fraud. Tax penalties are enormous, and victims are often placed into investment schemes that can become worthless.
If you have any queries about the information on this site, and want to get in touch to ask a question then please contact us. We do not provide financial advice, but if you have a specific question of a technical or practical nature then we will do our best to answer it, without giving advice.
To speak to us, phone 01228 538 988 during office hours, 08:30 to 5:00 Monday to Friday, or send an email to one of our dedicated teams at any time:
SSAS Team – firstname.lastname@example.org The SSAS team handles the establishment and day to day administration of our book of SSAS schemes. This includes work involved in taking over the trusteeship and administration of SSAS arrangements with other providers. They also deal with investments, and requests for benefit payments.
Property Team – This team is in two parts – the ‘Acquisitions Team’ (email@example.com) handle transactions including the purchase of commercial property and land, as well as in-specie transfers of property and re-allocations between members funds. The ‘Post-Acquisition Team’ (firstname.lastname@example.org) deal with sales of properties owned by our SIPP schemes, and they also ensure existing properties are insured, leases are in place and rental income is received.