A-day ssas surplus could be 'powerful tool'

Speaking at a presentation by Rowanmoor Pensions - the company formed following the management buy-out of the James Hay ssas and consultancy business - Ian Hammond, the managing director, says although surpluses in pensions technically no longer exist if there was one at or before A-Day then this could possibly be reallocated within the pension. But he points out there is a difference between 'allocation' and 'reallocation', as if the money - which the scheme is reallocating to someone - is already allocated to another member, then this is classed as an unauthorised payment and means the ...