I have an SSAS pension. I am an employee in a company that I do not own. Given the pension regulations changes, I need to move from this type of scheme soon or suffer very high cost. What are the options and what are the pros and cons of each option? While I understand the deadline is April 2026 , life companies are looking to make changes well in advance.
Transfer to standard prsa - limited investment options so not suitable for me.
Transfer to non-standard prsa.
Transfer to a new single scheme under a Master Trust. I have seen some reference to this online.
There is reference to transfer to buy out bond but this would not suit me as not leaving employment.
My questions.
What are the pros and cons of non-standard PRSA v new single scheme within master trust?
The transfer value of my fund at present is less than fund value . This is due to age of scheme, less than 5 years. If I transfer to new product with same life company , will they transfer at full fund value?
Thanks
Transfer to standard prsa - limited investment options so not suitable for me.
Transfer to non-standard prsa.
Transfer to a new single scheme under a Master Trust. I have seen some reference to this online.
There is reference to transfer to buy out bond but this would not suit me as not leaving employment.
My questions.
What are the pros and cons of non-standard PRSA v new single scheme within master trust?
The transfer value of my fund at present is less than fund value . This is due to age of scheme, less than 5 years. If I transfer to new product with same life company , will they transfer at full fund value?
Thanks