Perfect pension scheming

The Finance Act 2005 amended the 2004 Act to permit any pension scheme, regardless of the number of members, to offer scheme pensions. Previously, the scheme had to have more than 50 members. However, the 2005 Act also included a number of anti-tax avoidance rules. In particular, that a scheme pension cannot be reduced to less than 80% of the original pension unless all members taking this benefit have their scheme pensions similarly reduced, and the reduction has been recommended by an actuary. A few more innovative providers and advisers saw some potential for SSAS where there were only...