Turbo-charge your pension contributions
DBSASS video – updated for pension changes announced in the Budget 2024 - watch our informative video
We are DBSSAS Experts
WBR Group writes more SSASs as DB schemes than any other provider. Our Chief Actuarial Officer, David Downie is the architect of the DBSSAS and has worked extensively with HMRC to ensure it meets all legal and governance requirements.
A DBSSAS has the same wider investment powers of a traditional SSAS including commercial property investment and secured loans to your business.
A DBSSAS uses the rules relating to defined benefit schemes and our actuaries calculate a permissible target pension from which a contribution is agreed. The contribution is usually an allowable deduction for corporation tax in the hands of the sponsoring employer. With the current rate of corporation tax at 25%, this makes our DB scheme even more attractive.
Directors who have restrictions in the DC environment, such as the Money Purchase Annual Allowance (MPAA) or because they are high earners with a tapered Annual Allowance can benefit from the defined benefit rules.
Investment Surplus
A unique feature of our SSAS defined benefit pension scheme is that investment growth that is above the actuarial assumptions (called an actuarial surplus) can be used by the trustees to fund benefits for new members (for example, other members of the family).
Other benefits and features of a DBSSAS
As well as these attractive benefits, a DBSSAS has many other features which are summarised below:
- Allows catch-up for lost years of pension funding – known as Carry Forward using the same methodology of target pension
- Used to accumulate larger pension funds over a shorter time period when compared to defined contribution pensions
- Assists in the accelerated funding for a specific investment such as commercial property purchase.
- In the following respects a DBSSAS mirrors its DC sibling:
- Funds in scheme can be pooled with up to 11 others to assist investment gearing
- Identical range of investment options
- Scheme borrowing to gear up by a further 50%
- Secured lending to the sponsoring employer
How can a DB SSAS benefit you or your clients? Read our information below.
If you have any enquiries relating to our DB SSAS proposition, please don’t hesitate to get in touch directly with either David Downie or Alan Godbeer, via the contact form below.
David Downie
Chief Actuarial Officer
David Downie
Chief Actuarial Officer
David left the sunny shores of Trinidad on a scholarship to pursue his education in the UK. He qualified as a Fellow of the Institute and Faculty of Actuaries and has accrued over 30 years of experience in Pensions & Actuarial Consultancy and holds the Scheme Actuary certificate.
A pioneer, he developed the defined benefit small self-administered scheme and designed and created WBR’s DB SSAS which has proved a very successful alternative to a traditional SSAS given the right circumstances. David also gives time to many pension and actuarial industry committees and working parties. He advises Trustee Boards of larger corporate pension schemes and funeral plan trusts and assists solicitors when pension splitting on divorce is required, including providing independent expert reports for the courts.
David continues to support the Soca-Warriors the T&T national football team and with his wife has set up a small Christian charity – Advent Worldwide – to provide financial help with gifts of love and compassion to individuals and for ministry training.
Alan Godbeer
SSAS Sales Director – London, Southern England & South Wales
Alan Godbeer
SSAS Sales Director – London, Southern England & South Wales
Alan is a seasoned professional with over 30 years of experience in Financial Services, having worked at some of the UK’s principal life offices and specialist pension providers. He has specialised in the self-invested pensions space for more than 15 years and as the Sales Director at WBR Group, Alan is a key contact for Financial Advisers across the South West and South of the UK regarding SSAS and actuarial propositions. He has extensive knowledge of member-directed pensions and is one of the few experts in DB SSASs. WBR Group is renowned for providing comprehensive solutions across retirement, legal, actuarial, and tax propositions, ensuring clients receive tailored and effective financial strategies.
Outside of work, Alan is a passionate follower of American Sports, especially the NFL, and his “bucket list” includes a visit to Lambeau Field in Wisconsin to see his beloved Green Bay Packers win.