What is the difference between a SIPP and a SSAS pension?
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SIPP v SSAS Pension:
10 key differences
Comparing SIPP and SSAS
A SIPP or “self invested personal pension” is a type of individual personal pension, most commonly based around contract law. They are regulated by the Financial Conduct Authority (the FCA).
The FCA stipulate that you must never be fully in control of your own SIPP scheme and by law, the professional Trustee must be, meaning that the eventual say over investments, retirement options and how you leave your scheme as a legacy is largely down to them.
A SSAS is a type of occupational pension is based on a Trust Deed and law.
Unlike with a SIPP, you are both a Member of a SSAS and a Trustee, which puts you firmly in the driving seat of your pension and therefore in complete control, and able to make decisions about all aspects of investment choice, retirement options and how you pass on your pension as a legacy
" Quite simply if you are looking to explore the world of SASS by moving it from a corporate pension scheme or a SIPP you cannot do it without the invaluable advice of the team at WealthBuilders. I would have no hesitation in recommending them to anyone who is looking to explore the SASS set-up and having them there to provide sound knowledge and comfort along the way. "
Helping you make the right decision
High fees and charges can have a devastating effect on building your wealth. We will review and, where possible, identify ways for you to reduce your fees, often as much as 50%!
If you are a business owner or a property professional looking for maximum flexibility and control over your pension(s) then we will help you to make the right decision as to whether a SIPP or a SSAS pension is right for you.
Join our free community of over 5000 existing SSAS trustees, and those exploring SSAS. Learn from other like-minded people and ask questions to help you understand the differences between SIPP vs SSAS pensions, so you can make an educated decision as to which one is best suited to your needs.