Taking a stand: Why industry must act now to save SSAS

Small self-administered schemes (SSAS) are facing their biggest threat since their launch nearly 50 years ago. Under Department for Work and Pensions (DWP) proposals to change the general levy on pension schemes, schemes with less than 10,000 members, including SSAS, will pay an additional premium of £10,000 from 2026. Currently, the levy for SSAS is £44, under DWP's preferred option from 2026 it will be £10,049. A SSAS can have up to 11 members, but in practice most have two to four. So for an average scheme with three members that's £3,350 per member. What does the general levy p...