Ep 184: SSAS Pension Schemes with the Century Plan’s Dennis Hall
Nov 14, 2023
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Join Dennis Hall from Yellowtail IFA as he discusses the benefits of SSAS pension schemes, intergenerational wealth management, and strategies for equalizing retirement income. Learn about the resurgence of SSAS in the market and how they compare to SIPs in this insightful podcast.
SSAS pension schemes offer intergenerational wealth transfer and property investment leverage for small companies and family businesses.
SSAS enables asset consolidation, debt reduction, tax advantages, and property co-ownership settlements, ensuring financial stability and flexibility.
Deep dives
SSAS: Leveraging Pension Schemes for Property Purchase
Small self-administered pension schemes, known as SSAS, provide a unique opportunity to secure and transfer intergenerational wealth, especially beneficial for individuals seeking to leverage property investments or enhance their pension scheme's value. Typically designed for small companies with fewer than 12 members, including directors, owners, and family members, these schemes offer extensive control over investments and are commonly used for property acquisitions.
SSAS Case Studies: Dentists and Practice Premises Ownership
SSAS presents advantageous opportunities for family businesses like dental practices, where owners seek intergenerational planning solutions and own their premises. By consolidating various pension assets and debt into the SSAS, practitioners can alleviate personal debt, capitalize on tax advantages, and redirect rent income into the pension scheme tax-free, facilitating long-term financial stability and simplified asset management within the pension.
SSAS Applications: Property Co-Ownership and Divestment Solutions
In specialized scenarios, SSAS can facilitate property co-ownership settlements, allowing the scheme to acquire interests from owning parties in cases of separation or financial constraints. By utilizing pension funds to buy out co-owners, individuals can maintain control over assets, bypass capital gains tax implications, and achieve financial flexibility without resorting to external borrowing, emphasizing the strategic potential of SSAS in tailored wealth management.