RC Advisors
Free trustee training
Module 1: What is a SSAS?
Lesson 1: The two families of pension
Lesson 2: Where a SSAS sits
Lesson 3: Why a SSAS exists
Lesson 4: A SSAS is a trust
Check what’s stuck
A few questions on this module. There is no pass or fail — they are just for you.
1. What divides personal pensions from occupational pensions?
  • Who pays into the scheme
  • Who set the scheme up
  • The size of the fund
  • Which regulator looks after it
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Who set the scheme up
2. What does "self-administered" mean in a SSAS?
  • The trustees have to do all the paperwork themselves
  • A provider runs the scheme and the trustees approve its choices
  • The trustees make the decisions, and can pay others to do the work
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The trustees make the decisions, and can pay others to do the work
3. Why does a SSAS make every member a trustee?
  • So a small scheme can meet its obligations at a cost it can carry
  • So the member with the biggest share can control the scheme
  • Because small schemes don't have to meet HMRC's conditions
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So a small scheme can meet its obligations at a cost it can carry
4. Who is the legal owner of everything a SSAS holds?
  • The members, in proportion to their shares
  • The sponsoring employer
  • The scheme administrator
  • The trustees
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The trustees
5. Where do the trustees get their powers from?
  • HMRC's registration of the scheme
  • The scheme's trust deed and rules
  • The administrator's terms of business
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The scheme's trust deed and rules