James Hay puts SSAS business under review as chief retires


James Hay has put its SSAS business under review as head of SSAS administration Owen Dow steps down after 38 years with the business.

Dow will retire at the end of this year. His position will not be filled and other members of the team will take over his responsibilities.

The pensions administrator says: “As part of our continuous strategy review we’re exploring all options for the SSAS business, however no decision has been made at this time.”

The division currently employees 26 people.

The provider’s first half results, published in August, showed a 26 per cent rise in operating profits to £3.8m. James Hay said this was driven by falling investment costs and rising fees on non-standards assets.

In May, the provider acquired 4,000 Sipps from Towry.