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How a takeover works
Pension simplification allows clients to be the sole signatories to their investments, it also dispels the requirement for a pensioneer trustee and allows greater pension flexibility.
If your scheme is not making the most of pension simplification then our takeover service could be for you.
- Removal of previous pensioneer trustee
We provide a takeover deed which removes the current pensioneer trustee and leaves only the member trustees in place.
- Update authorities
We will contact each investment provider to update the changes to the trust. Only the member trustees are the signatories to their investments, not us. If necessary, for land and property, we will help with the update of any title deeds and will notify the mortgage company.
- Update SSAS records
We ensure that all changes are reported to HMRC and the Pensions Regulator. We also update the Data Protection Registrar.
- Full trustee report
We review all investments and transactions over the previous tax year. Our comprehensive review process ensures that tax penalties are minimised. We will issue a trustee report containing the changes that have been made and will return any original documents to the trustees by secure mail.
- Simplified and low cost
Our clear and simple approach ensures that the transition is carried out with minimum recourse to the outgoing administrator. This avoids unnecessary costs from them.
Pension Practitioner .Com offers a radical change to the traditional small schemes for business approach. We think that you will find this a compelling reason to move to us.
- Takeover Fees
The cost to takeover a scheme from another administrator is fixed, and low cost.
The cost to takeover a SSAS from another pension administration company is £900 plus VAT for the first person. For each additional member of the scheme please add £450 plusVAT.
Where land and property is held the Trustees must use a solicitor to undertake the removal of the outgoing independent/pensioneer trustee from the Land Registry.
We make no other charges to takeover a scheme from another pension administration company.
The takeover fee is payable at outset and the administration service fee is collected by direct debit once the takeover has been completed to your satisfaction.
You can download our Fee Menu (PDF) here.
If you want more information, just let us know and we’ll give you a call back.
Or if you’re ready to proceed, just fill in the Takeover Questionnaire (PDF) and we’ll get started …