Our Process

At Worcester Pensions we believe in building a long-term relationship with you, and at the earliest stage we will meet with the members to understand your objectives and explain the process. From engagement, you have peace of mind that your SSAS will be set up or transferred in a compliant way, with your objectives considered every step of the way. The process and paperwork can appear daunting, and that’s where our expertise and experience proves invaluable – to make the complex as simple as possible.

Establish

Worcester Pensions will lead the process of establishing your new SSAS. We will compile the necessary documentation, using established scheme deeds and rules regularly accepted by HMRC and the Pensions Regulator and will manage the application to HMRC, dealing with queries on your behalf, until approval is given. We will set up the SSAS bank account, ready to receive company and personal pension contributions into your scheme.

Whilst Worcester Pensions is unable to give regulated financial advice, we have an extensive network of professional advisors we can recommend to you.. A transfer into your SSAS from an existing pension will require advice from a suitably qualified financial advisor, for example. If you have been recommended by or have an existing adviser we can of course work with them to ensure the correct outcomes.

You can be confident that we will guide you through the process, to ensure your SSAS is set up as smoothly and efficiently as possible.

Takeover

If you already have a SSAS in operation, but you are looking for a more personal approach to it’s management, Worcester Pensions will be happy to help. We will engage with the exiting provider to ensure a smooth transition to our service.

Administer

Worcester Pensions will maintain the records of your SSAS, including the contributions record for each member. We will provide all members with a valuation of their pension on a quarterly basis, and at the end of each tax year we will prepare accounts for you. Where necessary, we will prepare and submit trust tax returns and VAT returns for you.

To maintain compliance with the Pensions Regulator, we will submit annual returns. Many of our SSAS own property and we will raise rental invoices, chase tenants for payment and arrange payment for property associated costs.

Advise

We pride ourselves on establishing and maintaining relationships with our SSAS members, to allow us to understand their requirements, and so be able to support them effectively. Our knowledge and experience in administering schemes puts us in a great position to be able to advise on the type of investments allowed, the implications of latest tax rules and the regulatory restrictions that apply to SSAS. Testimonials show some examples of where our advice has made a real difference to our clients.