Pension advice

[srebbe64]

Some years ago I disregarded my personal pension and pulled my funds out of it – because it was performing abysmally (The pension lost me a lot of money in fact). I then started investing in property (commercial and private) with the money that I’d otherwise have invested in my pension policy. Some of the commercial property I rent from myself – it’s quite Tax efficient and is commercially flexible. I decided not to own the property via a Self Administered Pension Scheme because there were too many restriction placed on it, I felt. However, I understand that the self administered pension rules are going to be relaxed shortly (the ownership of residential property, for example).

I realise the above information is pretty scant, but does anyone know the pros and cons of the new legislation. I might consider changing my arrangements.

[GasBlaster]

Its not just SSAS rules that will change, it is all pension rules, but not until 6 April 2006. Horribly complicated I am afraid, but in a nutshell from that date you will probably be able to put much more into a scheme than you can at present, and you will have much wider investment choices open to you. Needn't bother with a SSAS though, those schemes are dead ducks.

[agent006]

srebbe64 said:

S Some of the commercial property I rent from myself – it’s quite Tax efficient and is commercially flexible.

You don't work for Enron by any chance?

[srebbe64]

agent006 said:

srebbe64 said: S Some of the commercial property I rent from myself – it’s quite Tax efficient and is commercially flexible. You don't work for Enron by any chance?

It's all pucker and above board!

[simpo two]

Yep, I used to work for an ad agency where the two directors owned the property on a joint mortgage and rented it to their business. However, they go so good at moving profits into their wallets and pension funds that they forgot to spend any on staff or repairs...