Some years ago I was a director of my own company and opened an SSAS pension scheme. Things changed and although previous pensions were transferred into the SSAS the company never made any contributions to the SSAS.
I had planned to invest in property through the SSAS but that will not now happen. So I wish to transfer the ISSAS to a PRSA for a lower cost structure.
The SSAS provider now wants to receive a contribution from the company before they allow the transfer to a PRSA.
This is a real difficulty/cost as the company is in the process of being closed down.
I would be glad if anyone could shed any light on this. It is difficult to understand why an additional contribution is required to close the SSAS.
many thanks for any info.
I had planned to invest in property through the SSAS but that will not now happen. So I wish to transfer the ISSAS to a PRSA for a lower cost structure.
The SSAS provider now wants to receive a contribution from the company before they allow the transfer to a PRSA.
This is a real difficulty/cost as the company is in the process of being closed down.
I would be glad if anyone could shed any light on this. It is difficult to understand why an additional contribution is required to close the SSAS.
many thanks for any info.