A Pensioneer trustee is a status conferred by the Revenue Commissioners on individuals or firms with specialist knowledge in the area of pensions law and pensions administration. Our sister MacDonald Trustees is approved by the Revenue Commissioners to act as a Pensioneer Trustee.

It is a Revenue requirement that a pensioneer trustee be appointed as a trustee in relation to all Self-administered pensions. The role of the pensioneer trustee typically involves the establishment and administration of self administered pensions through use of a trust. Their formal responsibilities include ensuring such pensions operate in accordance with the requirements of the Revenue Commissioners and the Pensions Acts 1990-2002.

Small Self Administered Schemes

How does a SSAS work?

Funds are transferred from your company to a new legal entity – a Pension Trust. This Trust is established for your sole benefit.

Transfers to the Trust are tax deductible in the company; it helps to reduce Corporation Tax.

Tax Status of the SSAS

A Pension Trust is a Revenue approved tax-free investment vehicle. No Corporation Tax, Income Tax or Capital Gains Tax is payable on any income or capital gains which arise within the Trust.

What can the SSAS invest in?

The Trust can invest in a wide variety of assets such as:

• Stocks and shares
• Shares in private companies
• Residential property
• Commercial property

Are there Restrictions on Investments?

Small Self-Administered Schemes are prohibited from making investment in:

• Tangible moveable property e.g. antiques, yachts, gold bullion, and commodities
• The purchase of property to be used as a residence or holiday home by the beneficiary or anyone connected with him/her
• In relation to property investments, the purchase from/letting to/sale to the employer, the beneficiary or anyone connected with the beneficiary
• Loans from the pension fund to the beneficiary or anyone connected to him/her
• The purchase and development of property with a view to its disposal.

When can I access the fund?

At any time due to ill-health subject to Revenue agreement.

At age 50, if you retire from the current company.

At age 60, with no necessity to retire from the current company.