• Provided all scheme transactions are on a wholly commercial basis there are no investment restrictions. The SSAS 1991 Regulations do not apply.
  
  
• This commerciality ensures the PPT operates as a bone fide Retirement Benefits Scheme. For example, whilst loans to the members are not prohibited, nothing should be done which might prejudice the ability of the PPT to meet it’s pension obligations at normal retirement date. Loans on a commercial basis are therefore acceptable whilst disguised gifts are not.
  
  
• There is no compulsion to purchase an annuity at age 75
  (or any age for that matter).
  
  
• The residual fund on second death is treated as a surplus and is returned to the sponsoring employer. This creates an opportunity for the member to leave their pension assets for the benefit of future generations.

In summary therefore, the PPT will provide real value to the individual and their family both from an investment point of view and in terms of accessing benefits.