For the family operated company or entrepreneurial director the SSAS is the most effective pension vehicle for long term planning providing the business with significant pre-retirement tax planning opportunities.

A SSAS can be very flexible in terms of the investment choice as it is not limited to insurance funds and can include loans to the employer, the purchase of unquoted company shares (unlike a SIPP) and commercial property. However, a SSAS is an occupational money purchase scheme and benefits will be limited by Pension Schemes Office regulations based on earnings at retirement and length of service. There is also the opportunity for commutation to a tax free lump sum of up to 1.5 times final remuneration.

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