Self Administered Pension Funds

G

glasheen

Guest
I want to set up a SAPF and transfer some of my pension fund into it. Does anyone know if I could then use the SAPF to set up an account with an online broker like Etrade.

There is such freedom now with pension funds that it seems possible to trade direct online and avoid the cost and admin and inconvenience of trading through an assurance company or pension trustee. I know compliance might be raised as a problem but funds could only be transferred from/to a special bank account. This would help with compliance.
 
SSAPs

A pensioneer trustee must counter-sign all cheques drawn from the trust fund - so I can't see how an ETrade accout could work.

Mind you, I can't see what harm a request to the Retirement Benefits District of Revenue would do.

SRR
 
Re: SSAPs

Tks SSR

If a bank account was set up by the trust and this account could only transfer funds to a specific Etrade account then trustee would have no problem certifying compliance. The bank account could be accessed online for users convenience.

Who are the Retirement Benefits District of Revenue and how can they be contacted?
 
SSAPs

I can't see how the Pensioneer Trustee could satisify himself that the account can only buy shares in e-trade.

You could call the RBD of Revenue who look after SSAPs and see what they say: tel. 01-6318920.

SSR
 
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