SSAS governance: a growing problem

An interesting Pension Ombudsman decision caught my eye recently. Brothers, Richard and Terence Whyte owned shares in their family company and were the only members of its SSAS. In 2006, their trustee Rowanmoor Pensions informed Richard, through his IFA, the scheme rules would have to be updated in accordance with A-Day regulations. However, Terence refused to amend the rules and trust deed; as Rowanmoor recommended, due to legal action between the brothers. Later the company went into liquidation and the scheme was frozen. Terence then notified Rowanmoor he wanted to take his pens...