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SSAS or SIPP
Self Invested Personal Pensions (SIPPs) are very much the flavour of the month at present when it comes to considering pension provision for controlling directors of privately owned limited companies, other senior employees, as well as the self employed including partners in professional firms.
For those in employment (as opposed to the self employed) there is the difficult choice to be faced between a SIPP and a Small Self Administered Pension Scheme (SSAS). SSASs and SIPPs operate under different legislation and there are important differences in contribution limits, investment opportunities and benefits payable on death or retirement.
With this in mind Barnett Waddingham have produced a new leaflet which aims to compare the different features of SSASs and SIPPs. A copy of the leaflet may be obtained at no charge by clicking on the button below ("Leaflet Order Form") and filling in your personal details.
Whilst the leaflet does answer many of the typical questions raised, it is important to realise that the rules are complex and specific advice should be sought in respect of an individual's own circumstances. Please contact any of the consultants named in the leaflet for further advice on which type of scheme might be best for you.
Richard Millson, December 2001.