Is a SSAS Pension More Expensive Than a SIPP?
When it comes to SSAS, we charge a flat fee. We have a special promotional offer of £995 (down from £2,400) for enquiries made before Christmas 2024.
SSAS Cost: Why We Charge a Flat Fee
The reason we charge a flat fee is simply because, whether you have a bit in your SSAS or a lot, the cost for us to administrate the SSAS is the same. Therefore, we don’t believe it would be right to charge more just because you have more in your SSAS.
Here’s what our costs include.
Include as Many Members as You Like: It’s Still a Flat Fee
Moreover, SSAS is unique in that it is able to have 11 Members. So, you can include a spouse, partner, or children over the age of 18 (up to 11 members) and the cost remains the same.
This is a significant advantage over SIPP; if you have a spouse or partner that would like a SIPP, they would have to take out a new one, doubling the cost to the family. However with SSAS, the cost stays the same.
If you are the only person in your SSAS pension scheme and you choose to add another Member down the line, the flat fee stays the same.
How Do SIPP Administrators Charge?
Often, SIPP providers charge a percentage of whatever is in a SIPP. Therefore, the more you have in your SIPP, the more the SIPP costs you. However, it is unclear whether the SIPP increasing in value costs the SIPP provider any more to administrate.
The Benefits of a Flat Fee
We know that the point of a SSAS is for it ultimately to grow. We don’t want to charge you more for your success. Instead, we want to help you grow your fund and achieve success. Here are the benefits of our flat fee:
- With a flat fee, the cost of setting up a SSAS becomes diminishingly smaller as you add members or grow your fund.
- SSAS costs are tax deductible in the same way accountant costs are. So, the overall cost to you is less.
We truly believe that SSAS is the best kept secret in British Finance. If you are a finance professional considering Introducing for SSAS learn more about it through our SSAS Video Hub and discover the benefits of SSAS for yourself.
Transfer Your SIPP to a SSAS Today
If you would like to learn more about how your clients can transfer their SIPP to a SSAS, by all means do get in touch. We’d be very happy to answer your questions and share our advice.
