The benefits of a Congruent SSAS as an occupational pension

Congruent’s latest pensions offering for businesses and individuals is a Small Self Administered (SSAS) Scheme. There are many benefits of this relatively unknown type of occupational pension as an investment vehicle for retirement. We have brought together our vast experience and knowledge of pensions and technology to provide a leading and unique service. This article looks at the key benefits of a SSAS and how our service is delivered.

What is a SSAS?

A Small Self Administered Scheme (SSAS) is a type of occupational pension scheme that may be established by an Employer for the owner(s) and/or selected directors and employees (there may also be provision for including family members or other beneficiaries). The individuals who have been selected to benefit are called the members. There can also be associated employers in some circumstances. Where it is appropriate to make different arrangements for different members an employer may set up more than one SSAS.

The essential character of any occupational pension scheme, including a SSAS, is that money is paid in to the scheme and invested so that pensions can be paid to the members in later years (and sometimes to dependants). Money may be paid in by the Employer and/or by the members (and may include payments from other pension schemes including from a SIPP).

What makes a SSAS special is that eligibility is discretionary and there is considerable investment flexibility (although also limitations). A SSAS limitation is that membership of a SSAS is limited to no more than eleven members (including members who have retired and are drawing a pension) but, as mentioned above, it is possible for an Employer to establish more than one SSAS.

Why Congruent for a SSAS pension?

Our pension specialists

Congruent is not new to SSAS administration and leverages its substantial knowledge and expertise in pensions to provide a truly unique and high-quality SSAS service. We administer our own SSAS for our employees which holds a diverse portfolio of investments including commercial property. Congruent acts as Scheme Administrator and Professional Trustee to the scheme.

Clients receive ongoing support from our team of pension specialists and all activity is monitored by our Directors. Our team hold actuarial, investment and pension qualifications and are members of the Institute and Faculty of Actuaries.

Our technology

Congruent harnesses the power, strength and security of server and systems technology by IBM to develop and deliver its client services. Our actuarial team has been building and maintaining pension applications through IBM technology for over 25 years which have gone on to service a large number of firms across the financial services industry. Congruent currently provides pension redress calculation and valuation services through its Congruent Calculations application.

This expertise and experience have enabled us to provide a simple, but highly secure, online gateway for clients to obtain full transparency of our service. For SSAS pension administration, users have access to all documents and financial transactions for their scheme(s), as well as querying and messaging tools to contact our team at any time.

Our professional standards

Our team is committed to providing all our clients with high professional standards and a leading customer service. As an actuarial firm, we also adhere to the professional standards and code of conduct of the Institute and Faculty of Actuaries. The Congruent group carries adequate professional indemnity insurance through Pembroke Managing Agency Limited with Lloyd’s Syndicate 4000.

More information

To register your interest in a Congruent SSAS pension and to speak to one of our pension specialists, please contact us.

Download PDF Version