Can a SSAS Act as a Family Pension?
Yes, it can act as a family pension. In fact, at One Crown Pensions we positively encourage this approach.
Take for example, parents running a successful Limited Company that set-up the SSAS, we would also encourage them to add any children over the age of 18. This creates a highly tax-efficient family wealth trust.
The parents can build the value of the pension and if the children are employed by the Company that set the SSAS up, then the Company may also make contributions on their behalf.
The combined family members will be able to build up a substantial family trust running into many millions of pounds in the long-term whilst also benefiting from the huge tax benefits and control facilitated by having a SSAS.
