However, a fact that is not widely known is that many Pensioneer trustees receive a commission payment from the bank holding the trust bank account (note that often, this is in addition to the fee charged by the Trustee for running the scheme). This fact is rarely disclosed to the SSAS member but should really be a factor in one's ultimate choice of a Pensioneer Trustee.
Consequently, the rate of interest on offer to scheme members is rarely the most competitive rate in the market since obviously the bank can't afford to pay the trustee a commission and pay a competitive interest rate as well.