Advisers have rekindled their passion for SSAS as pension-led funding opportunities become more popular, writes Mark Canning. Here he outlines some key factors advisers should consider
Despite being available since the early 1970s and representing a market worth £26bn, the small self-administered scheme (SSAS) has often been overshadowed by its younger self-invested personal pension (SIPP) sibling. However, an increased awareness of "pension-led funding" opportunities, coupled with the pensions freedom reforms introduced in April, has helped to put SSAS firmly back in the spotlight. But aren't SSAS the same as SIPP, I hear you ask. Well, in short, no! While pension simplification in 2006 brought SIPPs and SSAS closer together, the SSAS retains some unique feature...
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