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Legacy Pensions - Our New Specialist Service

22 July 2009

Legacy Wealth is delighted to announce the establishment of our  specialist pensions division, Legacy Pensions. We now have a  dedicated team of local pension specialists able to provide consulting  advice and administration/compliance services to entrepreneurs and  family businesses in relation to Small Self Administered Pension Schemes  (SSASs). This expansion to our existing pensions team provides a 'one  stop shop' for all aspects of this specialist form of pension planning.  The new division strengthens our market position and complements our  existing wealth management and tax planning services.

What is a SSAS?

  • A SSAS is effectively a tax shelter which allows a greater  degree of flexibility and personal control than traditional,  institutional-based pension arrangements. 
  • It is initially  established by an employer and is typically suitable for the directors  and families of owner managed businesses.
  • Our new specialist  team can now provide all of the initial and ongoing advice required  in-house, without the involvement of an insurance company.
  • With this  independence, your SSAS can in many ways be controlled in the same way  as your business, with our specialist advisors allowing the 'pension  fund cheque book' to remain firmly in your pocket.

Advantages

  • The primary advantage of a SSAS is the wide range of  investments available to the trustees. 
  • A SSAS can invest  directly in commercial property, investment trusts, foreign currency  and listed/unlisted shares (including those of the sponsoring company).
  • It also has the  ability to grant loans to the sponsoring employer, a facility not  available under any other pension arrangement.
  • The ability to offer  total local control over the scheme, makes our SSAS offering an  attractive proposition to those seeking an entrepreneurial and bespoke  solution to their retirement planning needs.

Advantage of a local  administrative team

  • Historically these  schemes have been looked after by third party providers with restrictive  rules and, in some cases, high costs.
  •  A holistic service which can provide the full range of  consulting and compliance services required, cutting out the unnecessary  layer of cost and 'hassle' associated with traditional self managed  pension arrangements.

 

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