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Case study 06.01.2009

Read our case study on income planning to find out how a company director, close to retirement and with little pension provision, can start funding for retirement.

What is a Small Self-Administered Scheme?

The Rowanmoor Pensions Small Self-Administered Scheme (SSAS) is a registered pension scheme with 11 or fewer members. A SSAS is established under trust by an employer, known as the principal employer, for the benefit of the scheme members. This brings many tax advantages:

contributions made by the company qualify for corporation tax relief in the year they are made provided they are wholly and exclusively for the purposes of the employer's trade;
a member's personal contributions are free from income tax, provided they do not exceed the lower of the annual allowance or the member's earnings within the same tax-year;
investments (other than dividend income) grow free from UK capital gains tax and income tax;
a pension commencement lump sum can be taken between age 55 (age 50 until 2010) and age 75 free of tax;
lump sum death benefits can be paid until age 75, free from inheritance tax;
investments are protected from creditors of the employer and personal bankruptcy.

The Rowanmoor Pensions SSAS offers excellent investment and benefit flexibility and can be used as an effective business financial planning tool.

This information relates to the Rowanmoor Pensions SSAS.