If you’re a member of a SSAS (or a SIPP), your company has a SSAS, or you’re thinking about setting up a SSAS for your business, don’t miss this important survey.
The SSAS Survey Sheds Light On Concerning Issues For SSAS And SIPP Holders, Including Investments, Contributions, Commercial Property, Fees Levels, Quality of Service, And More
“Schemes Buckle Up For A Bumpy Ride: SSAS Survey”
That’s the title of a comprehensive SSAS survey published in January 2019.
It highlights a number of areas of concern.
It was compiled from feedback of more than 20 of the largest and most respected SSAS firms in the UK, in which they provided their views on how the sector is operating.
All of the SSAS administrators in the survey have been in business for more than five years.
Five of them have been in going since the dawn of SSAS in the 1970s, pre-dating SIPP, the other form of self-invested pension.
It’s this sort of SSAS experience that’s utterly invaluable.
In the survey, you’ll discover:
- How SSAS administrators are faring.
- The features and costs of current SSAS schemes.
- The challenges facing SSAS firms.
To read the survey, click the blue button below.
Is Your SSAS Administrator A Member Of AMPS?
AMPS is the Association of Member-Directed Pension Schemes.
AMPS has more than 150 member firms representing many parts of the member-directed pensions industry, including the most respected SSAS administrators.
AMPS is run by a committee, elected by the membership, from representatives of member firms. Amongst its varied duties, the committee makes representations on behalf of the member-directed pensions industry to bodies such as HMRC, the Financial Conduct Authority, HM Treasury and the Department for Work and Pensions.
AMPS provides support to its members through regular news posts, summary newsletters, open meetings, seminars and an annual conference.
To find out whether your SSAS administrator is a Member of AMPS, click the link in this paragraph and then put your SSAS administrator’s company name and/or its directors into the search box at the top of the AMPS home page.
If your SSAS administrator is not a Member of AMPS, it's not necessarily a problem. But it is worth checking out why they’re not taking advantage of this shared SSAS experience, which ultimately could benefit you.
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AJ Bell Is Often The Best Value SIPP For Stockmarket Assets
Over time, charges can wipe out a huge part of your fund. We like AJ Bell because there are no set-up costs. If you hold passive funds, which is our preference, or shares, investment trusts, EFTs, gilts or bonds, you pay one small fixed fee no matter how large your fund. And when you come to draw your benefits either as occasional drawdown or UFPLS payments, there's a small charge for the whole year no matter how many times you access your money (many SIPP and SSAS providers charge more than this for each payment). However, you should always compare charges in detail, because AJ Bell could be more expensive than other providers, depending on the type of stockmarket assets you hold.
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As SIPPclub neither advises on, nor arranges, nor recommends specific investments or strategies, we're unable to say whether a SIPP or SSAS or any investment within it is right for you. Ultimately, it’s your money and your decision, and you should only proceed once you're satisfied you've undertaken sufficient due diligence. If you need advice, you should speak to your trusted adviser, or you could find a local adviser from Unbiased.co.uk. Alternatively, we'd be pleased to introduce to a suitably qualified independent financial adviser.
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