What is the Process to Open Up a SSAS?
As a SSAS provider, we at One Crown Pensions have done our best to make opening a SSAS with us as simple and as streamlined as possible. We don’t want you buried under reels of paperwork. So, here’s a look at our process and what you can expect.
Step One: Speak with a Member of Our SSAS Practitioner Team
The first step is to book a call with a member of our team and speak to one of our consultants. This gives us a chance to understand your situation, your eligibility, and what you want from a SSAS. It’s also a good opportunity for you to ask any questions you have about SSAS.
Step Two: Fill in Our Client Discovery Form
To help you get the most out of a SSAS, we need some information about you. Our Client Discovery Form is an opportunity for us to confirm your eligibility for a SSAS and helps us understand what you’re hoping to achieve with a SSAS. If you’re not sure whether SSAS is the right fit for you, filling out our Discovery Form is a great place to start.
Step Three: Speak with a SSAS Consultant
Upon completion of the Client Discovery Form, you will be connected with a One Crown Pensions Consultant who will discuss your answers on the form and answer any questions you may have. This is an opportunity to understand whether SSAS is the solution you’re looking for and whether One Crown Pensions is the right fit.
Step Four: Complete the SSAS Registration Form
If you choose to proceed and open a SSAS pension with us, the next step is to complete our SSAS Registration Form. This provides all the information necessary to submit the application to HMRC.
Step Five: Waiting for SSAS Approval from HMRC
At this point, we’ve done everything we can and it’s now time to wait for your application to be approved by HMRC. This can take about 8-10 weeks.
While we’re waiting for approval, this is a great chance to discuss SSAS permitted investments with our sister Company, One Crown Investments. A member of the team will be in touch to talk through your investment options and the strategy you intend to take with your SSAS.
Step 6: HMRC Approval and Opening a SSAS Bank Account
Once HMRC has approved you for a SSAS, we will open a bank account for the SSAS. This takes 48 hours to go live. Once complete, you are free to fund your SSAS or make a pension transfer from SIPPs, Nest, and other personal pensions into the SSAS. Alternatively, you may choose to fund the SSAS yourself from your Limited Company. We can help you with this process to ensure any and all pensions are successfully transferred into the SSAS.
Explore Our SSAS Resources
We want to empower our clients by providing the information they need to make informed financial choices. That’s why we have created some of the best SSAS resources in the country, available completely free of charge in our SSAS Video Hub. We encourage you to explore our content if you want to learn more about SSAS and what it could do for you.
Book a Call with a Member of Our Team
Start the process of opening a SSAS with One Crown Pensions today. There is no obligation to commit to opening a SSAS with us. You can merely start the process to find out if you’re eligible and understand whether SSAS is the solution you need. Then, if you’re interested we can take things forward from there.
Book a call with a member of our SSAS practitioner team to get started.
