What is the Maximum Amount You Can Hold in a SSAS?

What you hold in a SSAS, whilst it is a pooled fund, is always per person and the good news is there is no maximum. You can hold as much as you like in SSAS, as in any UK scheme.

SSAS Pension Scheme: What are the Limits?

So, if there are no limits to how much you can hold inside a SSAS pension, what are the limits of this low-tax environment? Let’s take a look.

SSAS Pension Contribution Limits

There are limits on how much you can put into a SSAS annually. SSAS pension contributions are limited by the Annual Allowance which is currently set at £60,000.

Lifetime Allowance Limits

The Lifetime Allowance is the maximum you can save into your SSAS pension before you have to start paying additional tax. The total amount you can hold in your SSAS pension before this point is £1,073,100. 

Tax Free Cash Withdrawals

There are limits around how much tax free cash you can take from your pension, unless you have previous protections in place. 

When you reach retirement age the maximum tax free cash is calculated as 25% of the old lifetime allowance figure which was £1,073,100. Upon reaching retirement age, the maximum tax free cash you can take under current Government legislation is £268,275.

Tax free cash withdrawal can be a complicated subject, so we encourage you to book a call to speak with a member of our SSAS Practitioner team who’d be happy to answer your questions.

Watch: 3 Reasons Not to Take Tax Free Cash 

Have You Got Questions About SSAS?

Here at One Crown Pensions, we are committed to making SSAS simple. We have created some of the best SSAS resources in the UK, available completely free of charge on our SSAS Video Hub. We encourage you to explore these if you’d like to learn more about SSAS and its many benefits.

If you would like to discuss your SSAS, book a call to speak with a member of our experienced SSAS Provider team. We’d be happy to answer any questions you may have.