SSAS Pension: Is a SSAS a Trust?

The short answer is that yes, a SSAS pension is a trust.

What is a Trust?

A trust essentially works as a wrapper around an item such as property, land, and/or money that you want to hold for the benefit of either yourself or your beneficiaries. So, a trust will have a set of rules and it will have trustees who will elect those rules that you set down when you set the trust up. 

How Long Have Trusts Been Around?

Believe it or not, trusts have been around since the 12th century. The Knights of Old used to put their landed estates into trust to protect them while they were away fighting. And in the hope that they would be looked after by the trustees and maintained for their or their beneficiaries benefit.

So, trusts in the UK have been around for a very long time indeed. So, the legislation is a well-trodden path.

What Type of Pension is a SSAS?

A SSAS is a type of trust. In fact, it is probably the best trust you can lay your hands on. Unlike normal trusts that are liable to both income and capital gains tax, SSASs are statutorily exempt under the general pension rules from both income tax on profits. They are certainly exempt from capital gains tax and SSAS assets are also exempt from inheritance tax until 2027.

Discover the benefits of a SSAS.

Open a SSAS with One Crown Pensions

If you want to put your money and assets into a trust, we recommend exploring SSAS pensions. With a SSAS, you’re getting hold of the best piece of tax planning available in the UK today.

For more information about SSAS and whether it might be right for you, our SSAS Video Hub or book a call to speak with a member of our SSAS provider team.