Can Other SSAS Members Transfer Their Pensions into One Scheme?

Yes, other SSAS members can transfer their existing pension schemes into a SSAS. In fact, this is an extremely popular way to accelerate the growth of the SSAS and reach your collective financial goals faster.

What are the Benefits of Members Transferring Existing Pensions into the SSAS?

A SSAS can have up to 11 members and let’s say each member has at least one pre-existing pension scheme they’d like to transfer into the SSAS, this sees the total SSAS fund grow a lot faster. Here are just a few of the benefits of this:

Pooling Funds

One of the key advantages of SSAS is that it allows members to consolidate their existing pensions within SSAS. And because all decisions made within a SSAS must be unanimous, aSSAS is the perfect environment for members to pool their funds and invest in opportunities they could not afford on their own.

Increased Funds for Loans

The more funds consolidated inside the SSAS, the greater the fund total will be. This provides the funds needed for the SSAS to make loans back to the sponsoring employer, supporting the Company’s growth.

Increased Potential for Borrowing

A greater fund amount also multiplies the ability to borrow money into the SSAS in order to purchase commercial property, land, or other investments. You can speak to our sister Company, One Crown Investments, about SSAS permissible investment options.

Allocating Funds

Although each SSAS member can transfer their existing pension schemes into the SSAS, they do not own an equal share of the SSAS fund. Instead, each member retains what they transferred into the SSAS, any contributions they make to the SSAS, and any profits that may accrue on their percent of investments.

At One Crown Pensions, we keep a strict record of what each member has transferred and contributed into the SSAS so that benefits and profits can be divided out appropriately when the time comes to withdraw.

Transfer Your Pension into a SSAS

If you would like to discuss transferring your existing pension scheme into a SSAS, book a call to speak with a member of our One Crown Pensions SSAS Provider team who’d be happy to help.

To find out more about SSAS and the many benefits it provides its members, check out our SSAS Video Hub.