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Module 2: Who’s involved
Lesson 1: Members and trustees
Lesson 2: The dual hat
Lesson 3: Administrators and practitioners
Lesson 4: Two regulators, two different jobs
Check what’s stuck
A few questions on this module. There is no pass or fail — they are just for you.
1. Which of these is true of your SSAS?
- Every member is also a trustee
- Only the directors need to be trustees
- Members become trustees once they reach retirement age
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Every member is also a trustee
2. A member leaves the sponsoring employer. What happens to their place in the scheme?
- They're removed from the scheme automatically
- Their share passes to the members who remain
- They usually stay a member and a trustee until properly removed
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They usually stay a member and a trustee until properly removed
3. How much say does the member with the biggest share have?
- The deciding vote when trustees disagree
- The same as every other trustee
- The final word on investment decisions
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The same as every other trustee
4. What's the difference between the scheme administrator and a practitioner?
- None, they're two names for the same role
- A practitioner is regulated by the FCA and an administrator isn't
- The administrator carries legal responsibility to HMRC, a practitioner doesn't
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The administrator carries legal responsibility to HMRC, a practitioner doesn't
5. HMRC is satisfied with a decision. What does that tell you about The Pensions Regulator's view?
- TPR will be satisfied too, as they share one rulebook
- Nothing, because the two regulators ask different questions
- TPR only gets involved if HMRC raises a concern
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Nothing, because the two regulators ask different questions