Pension Administration (SIPP & SSAS)

Managing individual and business self-invested pension schemes

Pension Administration Overview

Advising you on Self-Invested Personal Pensions (SIPPs) and Small Self-Administered Schemes (SSASs)

With a wealth of expertise and many years of experience, our specialist pensions team will work with you to set up a self-invested pension scheme for you or your business.

Both individual Self-Invested Personal Pensions (SIPPs) and Small Self-Administered Schemes (SSASs) give you greater flexibility and more investment control over your pension arrangements. While more traditional pension funds limit the asset classes that pension contributions can be invested in, SIPPs and SSASs offer a wider range of investment opportunities including stocks and shares, unit trusts, investment trusts, open-ended investment companies (OEICs), deposit accounts, loan backs, commercial property and land.

Having a SIPP or SSAS has many ongoing tax benefits. Investment growth is free from both Income Tax and Capital Gains Tax, and lump sum death benefits can typically be paid free from Inheritance Tax. Both will give you the flexibility to draw your money from your pension in stages, leaving the rest untouched for the future; you can take up to 25% of your fund as a tax-free lump sum from the age of 55.

Providing a highly efficient and personal service, our team offers full administration and accounting support for both SIPPs and SSASs, including technical and investment advice. The service is designed to reduce the additional complexity of SIPPs and SSASs, enabling you to concentrate on enjoying your life and running your business.

Our Pension Administration service includes:

Providing information to scheme members
Investment management
Technical support
Preparation of comprehensive annual financial statements
Attending annual trustee meetings

and

Acquisition and administration of property

We can advise on the most suitable ownership structures for property held within a SIPP or SSAS and provide a full project management solution from inception of plan to completion of purchase linking with all the required professional advisers needed. If you already own commercial premises, we can advise on the pros and cons of holding these within a SIPP or SSAS and mange the transfer of ownership as appropriate.

In addition for SSASs we also:

Calculate and arrange payment of benefits
Register the pension scheme with HMRC
Report any events relating to the scheme, and submit returns, to HMRC
Undertake the administration and management of your business’ pension scheme on behalf of the trustees, including accounting.

Whether our team is working with you to set up a SIPP, SSAS or both, as part of our ongoing service we will advise you on the tax reliefs available to your pension fund, including personal and corporation tax relief on contributions.

To chat to us about your plans, get in touch with us or make an appointment with one of our pension experts at one of our offices in Exeter, Wells, Chippenham and Yeovil.

Sector Specific Service

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At Old Mill we realise that pensions are one route to a financially secure personal future – but they can also help your rural business now. For example, the opportunity to include land and commercial property as an asset class in your SIPP or SSAS can include farm buildings, and you can purchase new commercial property from funds already accumulated in the pension plan. If you have a SSAS then up to 50% of the net assets of the pension can also be used to inject cash into the business by way of a loan from the fund.

Our pension specialists work with proactive and progressive rural businesses to set up and manage SIPPs or SSASs now, in order to future-proof your personal and business goals. Our team offer both technical and investment advice as well as a highly efficient and personal service.
At Old Mill we realise that pensions are one route to a financially secure personal future – but they can also help your owner-managed business now.

A SSAS can be a perfect structure for business owners who want a pension arrangement for a small group of co-directors and key employees. The opportunity to include land and commercial property as an asset class in your SSAS also means that you can purchase new commercial property from funds already accumulated in the pension plan. And if you have a SSAS then up to 50% of the net assets of the pension can be used to inject cash into the business by way of a loan from the fund.

Our pension specialists work with proactive and progressive owner-managed businesses to set up and manage SSASs now, in order to future-proof your personal and business goals. Our team offer both technical and investment advice as well as a highly efficient and personal service.
At Old Mill we realise that pensions are one route to a financially secure personal future – but they can also help your food and drink business now.

A SSAS can be the perfect structure for business owners who want a pension arrangement for a small group of co-directors and key employees. The opportunity to include land and commercial property as an asset class in your SSAS also means that you can purchase new commercial property from funds already accumulated in the pension plan. And if you have a SSAS, then up to 50% of the net assets of the pension can be used to inject cash into the business by way of a loan from the fund.

Our pension specialists work with proactive and progressive food and drink businesses to set up and manage SSASs now, in order to future-proof your personal and business goals. Our team offer both technical and investment advice as well as a highly efficient and personal service.