What does a SSAS actually cost to run?
SSAS fees vary significantly between administrators, and the headline figure can be misleading without understanding what’s included. This guide breaks down the typical cost categories, what each fee usually covers, and what questions to ask any provider before signing up.
SSAS costs fall into three categories: a one-off setup fee, an annual administration fee, and transaction fees charged when specific events occur. The amounts depend on scheme complexity and the administrator, so ask for a full written fee schedule before you sign up. Annual fees cover HMRC compliance, member statements, trustee support and basic queries. Transaction fees are charged separately for property purchases, loanbacks, transfers in and out. All administration fees can be paid from scheme assets and reduce the taxable income or growth inside the scheme.
Last updated: July 2026 · 8 min read · UK 2026/27 tax year
The three categories of SSAS cost
1. Setup fee (one-off)
Charged at scheme inception, covering: trust deed drafting, HMRC registration application, member documentation, bank account setup support. Some administrators offer fixed-fee setup; others charge time-based. Ask for the figure in writing before you start.
2. Annual administration fee (recurring)
Charged each year (usually invoiced annually or quarterly) for ongoing scheme administration. Typical components: annual HMRC returns (Event Report, PSR), member statements, accounting and trustee minute support, queries within scope, beneficiary nomination records, scheme compliance monitoring. The fee usually depends on the number of members and the complexity of the scheme.
3. Transaction fees (event-based)
Charged separately when specific events occur:
- Property purchase: charged per transaction (covers SSAS-side trustee documentation, lease drafting support).
- Loanback setup: charged per loanback (loan agreement, security registration support, trustee resolutions).
- Pension transfer in/out: charged per transfer.
- Drawdown setup: usually charged when the first member starts drawdown.
- Investment changes (non-routine): case-by-case.
Are SSAS fees tax-deductible?
Yes. Administration fees paid from SSAS assets reduce the taxable income or growth inside the scheme. Fees paid by the sponsoring company on behalf of the SSAS may be deductible as a business expense, subject to the same “wholly and exclusively for trade” test that applies to contributions. Many administrators allow either payment route.
How SSAS fees compare to SIPP costs
SIPPs are often quoted as cheaper than SSAS, but the comparison is misleading because they price different things:
- SIPP: Priced per person. A self-directed SIPP usually costs less than a full SIPP that holds property or unusual investments.
- SSAS: One annual fee covers up to 11 members under one scheme — meaning per-member cost can be lower.
- SSAS-specific value: The SSAS fee includes trustee support and HMRC scheme administration (which SIPPs don’t need because there are no trustees in a personal pension).
What to ask any SSAS administrator before signing up
- What’s included in the annual fee — and what counts as a chargeable transaction?
- Are queries within the annual fee, or charged by time?
- Are property purchase fees fixed or percentage-based?
- What does the loanback documentation cost — is the legal charge registration included?
- How does the fee change if we add more members in future?
- Is the administrator HMRC-registered (mandatory)?
- What’s the typical turnaround for routine queries?
Cost categories
What SSAS fees cover
- Setup: one-off fee
- Annual admin: recurring fee
- Property purchase: per transaction
- Loanback setup: per loanback
- Pension transfer: per transfer
Ask any administrator
7 questions before signing
- What's in the annual fee?
- How are queries charged?
- Fixed or percentage transaction fees?
- Does the annual fee scale with members?
- HMRC-registered?
- Typical query turnaround?
- Full schedule of chargeable items?
Frequently asked questions
How much does it cost to set up a SSAS?
It depends on the administrator and the complexity of the scheme. HMRC registration itself is free. Ask each administrator for a written setup fee before you commit.
What's the typical annual fee for a SSAS?
It varies by administrator, the number of members and how complex the scheme is. Larger schemes (5–11 members) typically have higher annual fees.
Are SSAS fees tax-deductible?
Yes. Fees paid from SSAS assets reduce scheme income/growth. Fees paid by the company are typically corporation-tax deductible subject to the standard 'wholly and exclusively' test.
Is a SSAS more expensive than a SIPP?
Higher in absolute fee terms, but the SSAS covers up to 11 members and includes trustee/HMRC administration that SIPPs don't have. Per-member cost is often comparable.
Do administrators charge percentage-based fees on assets?
Most reputable UK SSAS administrators charge fixed fees rather than asset-percentage fees. Always ask — percentage fees become disproportionate as the scheme grows.
Are there hidden fees?
The most common 'surprise' charges are: time-based queries, document drafting outside the standard package, late-payment penalties, and minor changes requiring trustee minutes. Ask for a full schedule of all chargeable items upfront.
Can my company pay the SSAS administration fees?
Yes — many administrators offer either company-pays or scheme-pays arrangements. Company payment may be more tax-efficient for higher-earning directors.
Sources & references
- HMRC: Pensions Tax Manual PTM010000
- HMRC: PTM030000 — Scheme administrators
- HMRC: PTM120000 — Investments
- The Pensions Regulator
- HMRC: PTM030000 — Scheme administrators
Disclaimer: This article is for educational purposes only and does not constitute financial, legal, or tax advice. SSAS Pension (ssaspension.co.uk) is a trading style of Holtram TLPI Ltd, an HMRC-registered Scheme Administrator. Holtram TLPI Ltd is not authorised by the Financial Conduct Authority. Pension and tax rules are subject to change and depend on individual circumstances. Always consult a qualified financial adviser before making pension decisions.