Small Self-Administered Scheme

Small Self-Administered Scheme

A Small Self-Administered Scheme (SSAS) is a tax-efficient investment scheme that is suitable for both employees and controlling directors. It allows you to enjoy the greatest level of control over the direction of your investments. It is known by a variety of other names, including Self-Administered Pension (SAP) and Self-Directed Trust.

An ITC SSAS also offers the greatest level of flexibility in respect of contributions. Unlike many pension schemes offered by insurance companies, there are no obligations to make regular contributions to an ITC Small Self Administered Scheme and no penalties imposed if further contributions are not made.

Who can set up an ITC SSAS? 

An ITC Small Self Administered Scheme is suitable for employees and salaried directors. It is most suitable for owner directors and should be the number one choice for retirement planning.

What are the benefits of the ITC Small Self-Administered Scheme?

  • The ITC SSAS is flexible and can change to suit your circumstances.
  • Your Small Self Administered Scheme is portable, which means you can continue to use it even if you change employer.
  • It's a tax-efficient pension. You can enjoy tax relief at your highest rate of tax on any personal contributions made (subject to Revenue limits).
  • You have no tax liability for any company/employer contributions made on your behalf.
  • Your investment grows free of both capital gains tax and income tax.
  • You may retire as early as age 50 and take your benefits.
  • You can plan how your eventual retirement benefits are taken, in order to reduce your tax liability. For example, you may take a portion of your benefits as a pension lump sum and/or set up an Approved Retirement Fund (ARF) to keep your investments in a tax-efficient environment.
  • Your company/employer can claim full corporation tax relief on company contributions made to your SSAS to reduce their corporation tax liability.
  • ITC’s provision of regulatory oversight allows you to remain in control as co-trustee while reducing your and your company / employer’s obligations.
  • Your company/employer can vary contributions to your SSAS each year to suit the financial circumstances of the company.
  • Your SSAS is confidential and separate from any other staff benefits scheme within the company.
  • Your company/employer can use the ITC SSAS as a tool for remunerating, motivating and retaining key employees who are not directors.
  • Your company/employer can use the ITC Small Self Administered Scheme as part of an efficient business exit plan for retiring directors or key employees.

Next steps

Submit a callback request or contact your Financial Advisor.

To download the SSAS brochure please visit Product Downloads

For further details, take a look at our FAQ.