Small self-administered scheme

A particular type of occupational pension scheme (www.practicallaw.com/8-107-6900) that was widely used by owner-managed businesses before pensions tax simplification came into effect on 6 April 2006. Under regulation 2(1) of the Retirement Benefit Schemes (Restrictions on Discretion to Approve) (Small Self-administered Schemes) Regulations 1991 (SI 1991/1614) (now revoked), a SSAS had to have fewer than 12 members if at least one of those members was connected with another member or an employer or trustee. A SSAS also required a pensioneer trustee (www.practicallaw.com/5-422-1528). Since 6 April 2006, a SSAS counts as a registered pension scheme (www.practicallaw.com/5-201-6474), and the requirement for a pensioneer trustee no longer exists, although there are special provisions relating to schemes with fewer than 12 members.

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