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SIPPs and other Small Schemes

Small schemes include self-invested personal pensions (SIPPs) and small self-administered schemes (SSASs). They can offer great advantages over other schemes but they must be constituted and managed correctly to ensure that these advantages are realised.

The advantages include:

  • The possibility of making employer-related investments (via a SIPP) and employer loans (via a SSAS);
  • Greater control for members over investments;
  • Greater flexibility over the way in which benefits can be taken; and
  • Exemptions from certain statutory requirements, including the member nominated trustee requirement.

Some advantages are only applicable if certain conditions relating to, for example, the number of members and whether the members are trustees are fulfilled.

In addition care must be taken to ensure that investment in certain asset classes including residential property is structured in a tax efficient way (or potentially avoided if that is not possible).

Our pensions team is experienced at drafting SIPP and other small scheme documentation and updating it to meet client needs and to keep pace with legislative changes.

We can ensure that each scheme is constituted as necessary to provide the investment flexibility and range of benefit options required.

We also advise on day to day issues arising in small schemes, such as the tax treatment of whether proposed investments.

Our clients include pension providers, professional trustees and administrators who work with SIPPs, SSASs and other small schemes.

In addition we advise on small scheme matters in relation to corporate transactions, acting for the purchaser or the seller and scheme member or for other interested parties such as a lender.

Your Contacts

Martin Jenkins

Martin Jenkins

National Head of Pensions

DD +44 (0)191 233 9758

M +44 (0)7739 819 818

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