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SSAS offers commission or fee rebate to clients

Pension scheme administrator Apogee is offering IFAs a choice of commission or a fee rebate to consumers when using its online service to set up a new small selfadministered scheme.

Apogee, which specialises in SSAS schemes, says the vast majority of its new business comes from IFAs or accountants and it hopes its latest initiative will make it easier for them to use its service.

Consumers who use the website directly are charged £1,950 plus VAT for each new scheme.

Professional introducers, however, can choose between a £1,000 payment for introducing the business, rebating the payment to the consumer or a combination of the two options.

Apogee says, in its experience, many IFAs active in the SSAS market tend to be fee-charging advisers so they may choose not to accept the payment and instead pass it on to their clients.

Managing director Mark Edwards says: “We are recognising the fact that very few schemes come in via the general public.

“Most of our business comes through professional introducers such as IFAs or accountants and we hope this initiative will make them more likely to think of us when doing SSAS business.”

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