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Historic SSAS Seminars
For historial purposes we have left details of past Barnett Waddingham LLP seminars on the website.
Once again in 2001, Barnett Waddingham hosted a series of seminars on the subject of small self administered pension schemes. The seminars were designed to give both our clients and their professional advisers up to date guidance on small schemes.
The topics covered in 2001 were:
- Loans from SSASs - The do's and don'ts
- Income Drawdown - Does it Do What it Says on the Tin?
- SSAS v SIPP - Which is better for you?
- A round up of Current News
These talks concentrated on areas where there have been recent legislative or commercial developments. This helped the seminars to attract a total of 400 of our clients and their professional advisers. There was, as always, an opportunity during the seminars to ask questions and in common with previous years, the presenters were thoroughly tested!
The first talk centred on one of the favourite investments made by the trustees of SSASs: loanbacks, and how to use them without breaking the (increasingly complex) rules. The presentation on drawdown analysed the performance of drawdown plans which are now ten years old. Whilst many found the concept of drawdown attractive, it was important that they understood the risks involved, since many members had had to reduce their pensions if they had been drawing close to the maximum pension, reflecting poor investment markets and the increasing cost of buying annuities.
Perhaps the most frequently asked question from clients was "Which is better for me: SSAS or SIPP?" We compared the two in our third talk. Of course, there was no clear answer. Much depended on the circumstances of the client at the time they are asking the question.
We thought that after 2000's seminars there would not be so much to include in the "Current News" section. We were wrong - in 2001 the legislators were as busy as ever with pensions, and not always to the advantage of small schemes! Progress on the removal of the "Age 75" rule continued to be slow.
The Small Schemes team would like to thank all those who came along to the seminars in 2001. It is always a pleasure to escape the confines of the office and take up the challenge of making pensions interesting, or even exciting!
Ian Ward, December 2001.