Member-directed Pension Schemes
A-Day introduced changes for the two types of member-directed pension schemes, SIPP and SSAS. These two different arrangements were largely brought into line with each other, with the following exceptions:
- SIPP would still be managed by an administrator;
- SSAS no longer requires a pensioneer trustee;
- SSAS continues to be able to offer loans to a sponsoring employer, although such "loanbacks" must now be secured against an asset of the borrower.
Read more about this topic: Pension Tax Simplification
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