During Flashcards
1
Q
What type of pension can hold shares in the sponsoring employer?
A
SSAS
2
Q
What are the limits on holdings of shares in the sponsoring employer in a pension?
A
5% of scheme assets, or 20% if there’s more than one sponsoring employer
3
Q
Are shares of a company owned by the member in a SIPP classed as an unauthorised payment?
A
Yes
4
Q
What are the conditions for a PCLS to be regarded as recycled?
A
-PCLS drawn exceeds £7,500 across a 12-month period
-Recycled contribution is significantly increased (30%+) above that expected
-Contribution is made by individual or somebody else
-Recycling is pre-planned
