Questions And Answers

The maximum annual contribution to a pension scheme is now £50,000.

A SIPP can borrow up to 50% of the pension fund value, so this would be your cap, but that does not mean that a provider would necessarily lend you 50% of the value. That is a commercial decision and would vary from lender to lender.

There is also the SSAS approach...has anybody been involved in setting one up recently?

This is not an answer it's another question how does a SASS work?

Thanks for your answers, it's much appreciated.

I haven't really looked at a SSAS, i wasn't really sure what the benefit is. Am i right in saying that there is no limit of contributions to a SSAS but there is only tax relief up to a certain level? And also do all company staff have to be included or can it just be myself and another director?

Rather then go through the details I am posting a link that may asnwer all your questions on SSAS
http://www.pensionsadvisoryservice.org.uk/workplace-pension-schemes/small-self-administered-schemes-(ssas)
This used to be popular with life companies but not so much these days. There are many good companies who can advise on SSAS and at reasonable costs.

Paresh Shah
paresh@fs2.co.uk