The Pensions Regulator has confirmed to the SIPP and SSAS trade body, the Association of Member Directed Pension Schemes, that the current consultation and proposed standards for professional trustees do not apply to SSAS’ that are exempt from the Trustee Knowledge and Understanding requirements (i.e. SSAS’ with less than 12 members, that are also the trustees and all investment decisions are made unanimously).
That said, The Pensions Regulator have still kept references to “Micro Schemes” in the consultation paper, so it’s not quite as clear cut as their response suggests and certainly worth preparing for.
