A Small Self-Administered Pension (SSAP) is a corporate pension scheme with 12 or fewer members. A single member scheme can be established under trust by your employer, for your benefit. Each member can have their own SSAP as this allows flexibility in terms of investments that the SSAP can make. You do not have to be a director of a company to establish a SSAP. Any employee can set up a SSAP with the approval of their employer.
A SSAP is a tax-efficient investment scheme that is suitable for both employees and directors. It allows you the maximum level of control over the direction of your investments. Trustees control all aspects of the SSAP’s investment strategy and payment of retirement benefits. One of the Trustees must include a Professional Trustee known as a ‘Pensioneer Trustee’.
Investing pension in property:Pension Rules allow the use of retirement funds for the purchase of property assets. A proposal to acquire property as an investment can be approved subject to strict conditions imposed by the Revenue Commissioners.
Purchase of overseas property will only be permitted where there are appropriate arrangements in place to enable the pensioneer trustee to maintain control of the asset to ensure that Revenue rules are complied with.
Benefits of investing pension in property: