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Guide to Ssas

    CPD
    Approx.60min

    Introduction

    Many advisers may thus never have come across small self-administered schemes - in many respects a familial product to the more popular Sipp - in a professional capacity, let alone considered recommending one. Advisers often naturally prefer to stick to familiar territory.

    This means that clients for whom Ssas may be the right choice could be missing out, as very few clients would consider establishing a Ssas by themselves and without an IFA recommendation.

    Ssas is by no means a poor relation of the Sipp and can do everything it’s cousin can do - and more. This guide seeks to provide guidance on why Ssas might be appropriate for your client, the differences between a Ssas and a Sipp, the adviser’s role and the regulatory requirements.

    Answers are provided by Andrew Roberts, partner at Barnett Waddingham and chairman of the Association of Member Directed Pension Schemes; Carl Lamb, managing director of Almary Green; Lisa Webster, senior technical consultant for Hornbuckle Mitchell; and John Glover, business development manager at City Trustees.

    In this guide

    CPD
    Approx.60min

    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. What’s the maximum number of members a Ssas may have?

    2. What unique characteristic sets out Ssas from other money purchase pension schemes, according to Mr Glover?

    3. How do advisers’ responsibilities differ when transferring a client to a Ssas or a Sipp?

    4. Who can set up a new Ssas?

    5. Should advisers recommend a Ssas provider that also administers Sipps, as it will be regulated by the FSA?

    6. What are the most important considerations when choosing a Ssas provider

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