Why defined benefit SSAS now even more attractive to SMEs

Budget changes will increase use of DB SSAS by company directors

clock • 3 min read

Alan Godbeer looks back on the Budget changes and says the pension allowance overhaul makes SSAS written under DB rules more attractive…

The chancellor's announcement to increase to £60,000 per annum the pensions annual allowance (AA) and to abolish the lifetime allowance (LTA) will of course have a positive impact on everyone wishing to maximise their pension provision. With there being no limit now on the size of an individual's pension wealth in retirement, anything that allows for greater and quicker accumulation of value within schemes must be applauded and a specialist small self-administered scheme (SSAS) written under defined benefit (DB) rules could prove invaluable in this regard. The way in which the AA is t...

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