SSAS Pension: How Do SSAS Pension Trustees Work?
When you set up a SSAS, all the members of the SSAS must be member trustees. That is a requirement of the pensions legislation and you tend to find that all members also tend to be beneficiaries as well.
Watch: Who Can be Members of the SSAS?
So if all members are trustees, they control the SSAS. All trustees must agree on the investment decisions made within the scheme. For example, if you’re going to buy a commercial property or invest in stocks and shares, all SSAS trustees must agree 100% on the vote.
Therefore, it is very important when you are setting up the SSAS that the trustees and members of the SSAS are in agreement. That’s one of many reasons why we suggest SSAS members are from the same family or are Directors in the same Company. In our experience, when SSAS members are related, they are more likely to have the same aims and requirements for their family and long-term wealth protection.
To speak to us about opening a SSAS, book a call with a member of our SSAS practitioner team. You can also learn more about SSAS in our SSAS Video Hub.
