There are so many features that make SSASs the perfect pension choice for small businesses – the biggest of which being how flexible it is, and how adaptable it is to suit what your company needs.
Despite the fact that the automatic choice for most business owners is a SIPP, a SSAS pension is by far the better option for business owners due to the flexibility of loan backs (which increase cashflow), and lower admin costs in general so you can keep more money for running your business, as well as more investment opportunities.
New regulation has affected SIPPS in that it will eventually cause SIPP providers to increase their prices and costs to deal with a potential increase in administration – but this doesn’t apply to SSASs and therefore doesn’t affect business owners.
Plus, any assets that grow in your SSAS are in a completely tax free environment – and the flexibility in how you use the SSAS means you can use to buy and hold commercial property to take your business to the next level.
With a SSAS, you can access your funds whilst they’re growing, so you can have loan backs when you need them too.