History of SSAS

SSAS (Small Self-Administered Schemes) pensions were first introduced in the UK back in the 1970s. At the time, all pensions were large schemes managed by insurers and other large providers. However, SSAS pensions were designed for small companies that wanted to take control of their pension scheme.

Early SSAS pensions were used primarily by directors of small companies, who saw them as a way to save for their retirement and accumulate wealth. Over time, SSAS pensions have become more popular, alongside self-invested personal pensions (SIPPs).

SSAS pensions allow for a greater level of investment flexibility, as they can invest in a wide range of assets, compared with traditional pension schemes. This includes commercial property, shares, and investment funds.

Today, SSAS pensions remain unregulated by the FCA, although many underlying assets within SSAS schemes (such as bank accounts) are regulated. With tax guidance on the treatment of scheme assets overseen by HM Revenue and Customs, and schemes that hold 2 or more Members  registered with The Pensions Regulator, these Trusts that provide occupational pension benefits remain a popular choice for small business owners who want more control over their pension savings and investments.