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SSAS rules and regulations

A SSAS pension is overseen by two bodies: HMRC and The Pensions Regulator. HMRC registers the scheme and sets the investment and contribution rules. The Pensions Regulator ensures members are protected and trustees comply with their obligations. This guide covers both regulatory regimes: what they require, what they prohibit, and how TLPI supports scheme trustees through the compliance process.

Reviewed June 2026 · 8 minute read

General SSAS Rules

A company director can have a SSAS. As SSAS can have up to 11 members in total. A SSAS is run by its members, who are trustees of SSAS. The scheme and its paperwork is managed by the Scheme Administrator, who can be a member of the scheme. Whilst not a legal requirement to have professional legal and compliance support, TLPI strongly recommend you ensure this is part of the service you employ to help protect the scheme from breaching HMRC rules and The Pensions Regulator’s regulations.

Within HMRC rules, a SSAS can invest in a range of assets, including commercial property or hands-free property investments. The SSAS scheme can provide commercial loans so could provide a loan to the company. This loan can be used to purchase assets, for example a building such as the company premises, or for any other valid business purpose. A SSAS can borrow money, via a mortgage for example, for investment purposes.

Do SSAS rules allow it to invest in property?

Within HMRC rules, a SSAS can invest in a range of assets, including commercial property or hands-free property investments. The SSAS scheme can provide commercial loans so could provide a loan to the company. This loan can be used to purchase assets, for example a building such as the company premises, or for any other valid business purpose. A SSAS can borrow money, via a mortgage for example, for investment purposes.

Choose your route

What are you trying to do?

This page covers the rules. If you already know what you want the scheme to do, these pages take you straight to it.

See what a SSAS can invest in Commercial property, shares and funds - what the scheme is permitted to hold, and what it is not.
Lend from your SSAS to your own company How a loanback works, and what your company can use the money for.
Buy property through your SSAS The four routes directors use, including buying the premises your company trades from.

A SSAS Is a Trust which must adhere to SSAS regulation

We are often asked, is there a SSAS pensions regulator, how are SSAS pensions regulated, and who makes SSAS pension rules. To a certain extent, a SSAS is self-regulating. It is a trust, which means that it is run by trustees for the benefit of its members. In practice, all members of a SSAS are trustees of the SSAS scheme.

  • Any member of a SSAS can be a trustee.
  • A trustee does not have to be a member of the SSAS.

In the majority of cases, an SSAS is run by the members for the members, meaning there is no outside influence from trustees who are not members of the scheme. The rules of the scheme are dictated by HMRC.

Why Might You Not Want to Be a Trustee?

A SSAS member can opt out of being a trustee — but the default position is that all members should be trustees unless there is a valid reason or the scheme is structured to allow otherwise.

A SSAS must have at least 1 trustee to continue.

Trustee Obligations

Because every member is a trustee, the legal responsibility for how the scheme is run sits with the directors themselves rather than with a provider. In practice that means:

  • Approving every investment, and being able to show why

  • Keeping the scheme inside HMRC's rules, including the ban on residential property

  • Testing any loan to the company against HMRC's five conditions before the money moves

  • Keeping records and valuations, and submitting returns on time

Opting out of trusteeship does not undo responsibility for decisions taken while you were a trustee, and an unauthorised payment triggers a tax charge on the member or the company.

This is where TLPI carries the load: checking investments and loans before they proceed, keeping the records, and handling scheme registration, HMRC reporting and returns. The decisions stay yours. The compliance work does not. The difference between a trustee, the Scheme Administrator and a practitioner is explained in our insight on SSAS administrator, trustee or practitioner.

The Pensions Regulator

Lastly, workplace pensions, including SSAS, are regulated by the Pensions Regulator (TPR), which is sponsored by the Department of Work and Pensions. TPR is responsible for making sure all employers set up their employees with a pension and that employee pensions are protected.

As a SSAS is a workplace pension, each SSAS must be registered with TPR if there is at least one employee enrolled. If the SSAS is made up of just one member, such as the employer, then it does not need to be registered with TPR. The Pensions Regulator can investigate and prosecute those who break the law.

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FAQs

SSAS regulations — frequently asked questions

SSAS pensions are regulated by two bodies. HMRC registers the scheme and enforces the tax rules — including the annual allowance, the investment restrictions, and the rules on authorised payments. The Pensions Regulator (TPR) oversees the scheme's governance, ensures trustees meet their obligations, and can investigate or take action against schemes that fail members. Both bodies can impose penalties for non-compliance.

A SSAS can have up to 11 members. All members must be connected to the sponsoring employer. Each member automatically becomes a trustee of the scheme, unless they formally opt out of the trusteeship role. The default position is that all members are trustees, meaning all of them share legal responsibility for how the scheme is run and invested.

Yes, a member can opt out of the trustee role. However, opting out does not remove their personal liability for scheme decisions taken while they were a trustee. If a member opts out, the remaining trustees continue to manage the scheme. TLPI recommend that members take professional advice before opting out, since the trustee role also carries decision-making rights over investments and benefits.

Each year, the scheme administrator must submit an annual return to The Pensions Regulator and, in some cases, a scheme return to HMRC. The annual return records membership, contributions, investment values, and any events reportable under the Pension Schemes Act 1993. Additionally, any unusual events — such as an unauthorised payment or a breach of an investment restriction — must be reported to HMRC promptly on a standalone basis using the prescribed forms.

Get compliant SSAS administration

A free, no-obligation call with a SSAS specialist. TLPI manage all HMRC and TPR compliance — so your trustees can focus on investment decisions rather than regulatory paperwork.

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