Takeover/ Conversion SSAS

A SSAS is a complex pension scheme with a significant number of rules and regulations that need to be followed. Usually, Member Trustees will appoint a Professional Trustee to assist them with the day-to-day operation of the Scheme, and to provide guidance and direction in relation to transactions and decisions.

On occasion, Member Trustees and the Sponsoring Employer may wish to change the Professional Trustee, or have one appointed where there isn’t currently one. Alltrust offers a Takeover service where they can prepare documentation to become appointed as a Professional Trustee. An audit of the Scheme is undertaken at that stage, and any outstanding issues dealt with.

Conversion Service

Some small occupational schemes (such as Executive Pension Plans) were established many years ago and continue to benefit from rules relating to retirement that operated prior to April 2006 (when the rules were simplified).

Where individuals are looking for the flexibility of a SSAS for investment or retirement options, converting one of these scheme may be preferable to transferring pension benefits, as these older rules are then retained any mat provide enhanced benefits.

Financial Advice

SSASs are complex and we believe individuals, and the employer, require professional financial advice before proceeding with the establishment of a SSAS. We cannot and do not offer financial or investment advice ourselves, and individuals leave themselves exposed to serious financial risk if they do not receive expert guidance.

Your financial adviser should always be authorised and regulated by the Financial Conduct Authority.

Literature and Forms

The conversion or a takeover of a scheme is a complex process and some of the documentation will need to be prepared following review.

Scheme and Fee Information is, however, available on this page, as is the initial information collation document.

The Alltrust Model

As with all our products, our SSASs are designed to cater for service and flexibility. All of our clients are allocated a Consultant to assist them with their pension scheme providing a direct and single point of contact.

Fees are charged on a fixed basis to provide clarity to clients and advisers. We don’t take any additional earnings from bank account interest or commissions, nor do we obtain introduction fees from any third parties.

If you are interested in our products, please speak to your financial adviser.