Pensions for directors

A Self Invested Personal Pension (SIPP) is similar in many ways to a normal Personal Pension Plan.  They come under the same basic rules as far as contributions, tax relief, eligibility etc are concerned.  However, SIPPs offer you much greater control over the underlying investments.

Increased investment choice brings increased complexity, so active management is essential. If you don’t wish to do this yourself, we can help.

A SIPP requires an Inland Revenue approved administrator and trustee to ensure the paperwork is sound and that the scheme qualifies for tax relief. This is why SIPPs tend to have setup and annual charges. We can guide you in selecting the most competitive package to suit your needs.

For more information contact Martin Lebovitch.

Small Self Administered Schemes (SSAS)

As with Self Invested Personal Pensions (SIPPs), these schemes offer a high degree of control over the underlying investments. Unlike SIPPs they are Occupational Pensions (not Personal Pensions), and can have more than one member (with a maximum of 12 members currently building up benefits).

SSAS arrangements can therefore be highly attractive for family businesses, as they allow members to pool their funds to purchase property that would not otherwise be affordable. The SSAS could, for example, invest in a commercial property and lease it to the sponsoring employer. It could also borrow to assist in funding the purchase. These are complex arrangements and expert advice is essential. 

For more information contact Martin Lebovitch.

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