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Standard Life kicks off premier SSAS

Standard Life has introduced the premier small self-administered scheme (SSAS), which is part of Standard Life&#39s single charged occupational pension range.

This SSAS initially provides access to 20 Standard Life funds that cover areas such as UK equity, European, property, fixed interest, Far Eastern and ethical funds. There are also eight external fund links from Deutsche, Fidelity, Gartmore and Threadneedle.

Once a member of the schemes invest in this fund range, they have full control over the rest of their pension fund in a similar way to a self-invested personal pension (Sipp) scheme. Under Inland Revenue rules, the SSAS can invest in unit trusts, investment trusts, Oeics, gilts, quoted shares and commercial property. It can also lend money back to the small businesses, which may be useful if the business is looking to expand or to buy equipment.

AJ Bell&#39s SSAS allows members to invest in anything that qualifies under the Inland Revenue rules from the start, without members first investing in a specific fund range. This makes it more flexible than the Standard Life SSAS. However, there is no loan facility with the AJ Bell SSAS.

The Standard Life SSAS could appeal to controlling directors of small businesses who are used to making their own decisions in their businesses and who want to also retain control over investment choice. They may use the loan aspect of the SSAS to buy property from which they can then run their businesses.


Pension review chief slams Whitehall and Opra

Head of the pensions simplification review Alan Pickering has made a scathing attack on the Government, saying it had taken an “Alice in Wonder-land” approach to pension legislation.At the Royal Institute of International Affairs European Pensions conference on Monday, he said the Department for Work and Pensions and the Treasury “do not communicate except with […]

Clerical bonuses cut by up to 20%

Clerical Medical is the latest life office to slash reversionary and terminal bonuses on its with-profits policies, with cuts of up to 20 per cent.Blaming market conditions, Clerical has cut bonuses on its life and flexible bond policies to 4 per cent from 5 per cent. On pension plans with an annual management charge of […]

Two buy-to-let packages from Exclusive Connections

Mortgage packager Exclusive Connections is rolling out a base rate tracker mortgage funded by Bristol & West.The product currently has a rate of 4.49 per cent, will be fixed at base rate plus 0.49 per cent until April 30, 2005 and then base plus 1 per cent for the remaining term.Applicants can borrow a minimum […]

Up to 99 jobs may go at Inter-Alliance

Inter-Alliance is conducting a formal review which could see up to 99 back office and compliance staff made redundant from its Wimbledon headquarters and West Byfleet offices according to sources close to the company. The review follows the management shake-up two weeks ago which saw founding chief executive Stuart McGreevy leave the company and the […]


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