SSAS Takeover – seamless and quick
As SSAS experts, we are often asked to review existing schemes with a view to taking over as Professional Trustee for the scheme – the takeover process is very straightforward and we will ensure it is seamless and operated in accordance with all relevant requirements.
Whether your client is dissatisfied with their existing service or charging levels, frustrated over being forced to use a provider's panel of suppliers, or their existing provider is no longer servicing SSASs, we can review your client's current arrangements with a view to seamlessly taking over as Trustee for the SSAS.
As an independent company, Yorsass has no ties to any fund manager or insurance company, meaning our pension scheme members can choose how their funds are invested from a range of investment opportunities.
As SSAS experts, we are often asked to review existing schemes with a view to taking over as Professional Trustee for the scheme – the takeover process is very straightforward and we will ensure it is seamless and operated in accordance with all relevant requirements. Generally this would be as follows:
- We will obtain a copy of the current trust deed and rules, together with a list of the scheme’s investment from the current provider.
- We will then prepare the deed of removal and appointment, effectively removing the former pensioner trustee and replacing them with Yorssas.
- We will circulate the deed to the member trustees and to the former pensioner trustee for signing.
- On the return of the fully signed deed, we will notify the schemes bank account providers, Investment houses, HMRC and the Pension Regulator.
The time taken to complete the takeover and to re-register the SSAS usually takes around 4-6 weeks.
Don’t forget, we are currently waiving our fees for an existing scheme takeover - available until tax year end (6th April 2022).
