Small self-administered schemes (SSASs)

Produced in partnership with Wyn Derbyshire of gunnercooke LLP

Practice notes

Small self-administered schemes (SSASs)

Produced in partnership with Wyn Derbyshire of gunnercooke LLP

Practice notes

What is a SSAS?

Small self-administered schemes (SSASs) are usually registered pension schemes that are set up to provide defined contribution (DC) benefits to a small number of members (no more than 11), usually in the context of a small business (often family owned or managed). SSAS members may be key/senior employees and their relatives (even if the relatives are not employees themselves).

SSASs are usually trust-based occupational pension schemes and the members are usually trustees of the scheme, although SSASs often employ an independent trustee. SSASs may be operated by insurance companies and other pension providers.

Contributions may be made to the SSAS by the members and/or the employer. As a registered pension scheme, tax relief on contributions is available. For further information, see Practice Note: Member and employer pension contributions—tax relief.

The assets of a SSAS are held in the name of the trustees and so are not individually allocated to members. Instead, members are deemed to hold a proportion of the scheme’s assets.

Before a-day (6 April 2006), when the current 'registered

Wyn Derbyshire

Partner, gunnercooke LLP

Wyn is a partner at gunnercooke LLP and specialises in pensions, trust and employment law in all industry sectors, dealing with the transactional, advisory and documentation aspects.

He also has wide experience of the pensions implications of heavyweight corporate transactions and flotations, the issues arising from the establishment and merger of pension schemes, and sex equalisation and other discrimination issues in respect of benefits provided by pension schemes. In addition, he provides advice to pension scheme trustees generally.

Recent transactions include advising Amcor on pension matters relating to the acquisition of Alcan business and the acquisition of Northern Foods PLC by Boparan Holdings.

He is a co-author (with Stephen Hardy and Stephen Maffey) of TUPE: Law and Practice, published by Spiramus Press (now in its 4th edition), and co-author (with Stephen Hardy and David Wicks) of Money & Work, published by Spiramus Press in August 2007. He has also written several other books and numerous articles on a variety of legal and non-legal topics.

Jurisdiction(s):

United Kingdom

Key definition:

Self-administered definition

What does Self-administered mean?

A scheme in which the assets are invested by the trustees or an external investment manager.

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