Email: info@ssaspro.co.uk
Phone: 0330 022 4997

Our status

SSAS Pro are introducers of SSAS business to SSASCo Ltd, who facilitate the Professional Trustee and specialist Administration services as Authorised Pension Trustees and Administrators.

FCA Regulated Advice

Neither SSAS Pro nor SSASCo provide any form of Investment Advice. Our focus is in the creation of the SSAS structure only. We are able to introduce SSAS trustees to Independent Financial Advisers if requested, who will be authorised and regulated by the Financial Conduct Authority (FCA).

Neither SSAS Pro nor SSASCo provide Pension Transfer advice. SSASCo are able to act upon the request of SSAS Trustees in the request for the Transfer of a Members Pension, however they cannot advise on the suitability of that transfer. Independent FCA regulated financial advice must be sought where a SSAS Member Trustee or a prospective SSAS Member Trustee is considering a pension transfer. We are able to introduce SSAS Member trustees or prospective SSAS Member Trustees to Independent Financial Advisers if requested, who will be authorised and regulated by the Financial Conduct Authority (FCA).

Accountancy / Tax advice

We are able to introduce SSAS Member trustees or prospective SSAS Member Trustees to specialist and authorised Accountancy / Tax specialists if/as requested. Those specialists will engage directly with the SSAS trustees or prospective Member Trustees or the SSAS Sponsoring Employer. Neither SSAS Pro nor SSASCo provide Accountancy or Tax advice.

SSAS Structure and Regulatory status

SSAS is an Occupational Pension Scheme (OPS), in the same way as many millions of employer schemes across the UK.

OPS are Regulated by The Pensions Regulator (TPR).

SSAS set up advice is not regulated by the Financial Conduct Authority, as the advice given to create a SSAS is provided to an Employer, not to an individual. The FCA do not regulate Occupational Pension Schemes. Some investments within a SSAS however may be FCA regulated, and appropriate advice must be sought in that respect (as noted above).

HMRC

All SSAS’s must be approved and registered with HMRC, and given an individual PSTR number (Pension Scheme Tax Reference number) before they can be regarded as in existence for tax purpose.

Professional Trustees work directly with HMRC to approve schemes on behalf of applicants.

Services provided

SSASCo provide BOTH administration and Professional Trustee services, to protect and secure all of the SSAS’s and members form making errors or falling foul of HMRC or The Pension Regulator reporting and returns regulations.

SSAS Bank account

All SSAS’s have their own distinct bank account.

The Bank account supplied via the SSASCo SSAS, is operated by Metro Bank.

That bank account is held by Metro Bank, London. Access to that bank account is via a joint signatory mandate (at least), no funds can be accessed without joint authority.

That Authority will be The Member Trustee and SSASCo as the Professional Trustee.

Metro Bank are FCA Regulated and FSCS protected in line with guidance.

Risk / Management

All money held in assets purchased by the SSAS are held in Trust for members of the SSAS. This is a formal individual trust, which means that your pension schemes money and assets are always held separately for your benefit and are never pooled within a Master trust.

Most SSAS clients hold assets they have personally elected to own and invest in, directly in the SSAS, which essentially means that they as Member Trustees have control and influence over all of the assets within the SSAS.

That in general terms means that a SSAS Member has more control of their pension value, when held in a SSAS, when compared to any other form of fund managed pension structure.