HW FINANCIAL SERVICES
PRESS RELEASE
January 5, 2011.
NEW AGE PENSION SCHEMES – A SMALL BUSINESS LIFELINE SMALL BUSINESSES DON’T KNOW ABOUT.
Struggling North West
Ann-Marie Banks, a senior financial planner with HW Financial Services, part of UK top 20 chartered accountants Haines Watts, says business owners who have stayed abreast of pension developments are well aware that SSAS pensions - Small Self Administered Schemes, or company pensions – are designed to allow up to 50% of the pension value to be loaned back to the business.
“The pensions industry changed a great deal from April 2006, with lots of businesses taking out SIPPS – Self Invested Personal Pensions - which are still great vehicles to use, but for smaller owner-managed businesses there are other pensions vehicles such as SSAS – Small Self Administered Schemes, company pensions - schemes which are invested in same way as a SIPS is, but can still facilitate flexibility back to a biz when times might be difficult with regard to borrowing.
“Alternatively, these schemes can actually just provide a business with a lifeline for a short period while they get themselves back on track. SSAS schemes can generally lend up to 50% of the pension assets back to the company, so they’re not just about self-investment in, say, property, they can help the business to progress,” said Ann-Marie Banks, who is based in Manchester and Preston, and has responsibility for Merseyside and Cumbria clients. Video.
Haines Watts is a UK
Ends
Further information:
Iain Macauley
07788 978800
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