A small self-administered scheme (SSAS) is a popular type of workplace pension that is independently managed by the company that sets it up. There are some rules - and features - associated with a SSAS that you should be aware of.
- A SSAS is open to all of a businesses employee's and their family members.
- Only one SSAS pension is allowed per company.
- Membership of SSAS pensions is capped at 11 members.
- SSAS pensions are managed by the scheme administrator and it's trustees, who are generally members of the scheme.
- Contributions made to a SSAS pension are eligible for tax relief.
- Members of a SSAS can start drawing benefits from the age of 55.
- When withdrawing from a SSAS, you can choose to withdraw the first 25% of your pension as a tax free lump sum or you can opt to recieve 25% of each withdrawal you make tax free.
CARLTON Bonds are an IFISA provider specialising in fixed term property bonds.
Against a backdrop of low interest rates and a volatile stock market, the IFISA can provide an attractive investment opportunity for experienced investors.
With the ability to hold peer-to-peer loans and debt-based securities, IFISA investments have the potential to generate higher rates of return than more traditional investment routes for investors with a greater appetite for risk.
To find out more, download our free IFISA guide.