With interest in SSASs making a comeback, Ian Stewart, joint managing director of Dentons Pensions Management, explains why due diligence of any loan security is paramount.
Small self-administered schemes (SSASs) have been a forgotten pension product, in part due to the success of self-invested personal pensions. However, there has been a resurgence in the past couple of years, with new SSASs being established mainly due to the fact the scheme is able to lend money to a corporate founder business. Some industry commentators are advocating the use of SSASs for lending purposes and this is helping to bring them to the forefront of advisers’ minds. The growing interest in loans has been fuelled by two issues. Firstly, companies have been denied new funds...
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