How is a SSAS regulated?
In addition to being uniquely flexible, a SSAS is a very secure method of accumulating retirement savings and three regulators are in place to safeguard these:
- HMRC who regulate the establishment of the scheme, the amounts that can be paid in and out of the scheme and the investments it can make. They also set the tax rules governing the SSAS based on the legislation under Part 4 Finance Act 2004.
- The Pensions Regulator who oversee the operation of the scheme, the treatment of its members, the governance and oversight of our company.
- The Information Commissioner's Office (ICO) who regulate the control of personal data.
We are of course also subject to regulation through the Anti-Money Laundering Act 2018 and Proceeds of Crime Act 2002.