Dentons SSAS permitted assets

Dentons Pension Management Limited (Dentons) allow a wide range of investments to be held in the Scheme and we would strongly encourage you to seek regulated financial advice before making any decisions. Dentons will not provide any advice on the suitability of investments but reserves the right to refuse to hold any proposed investment in the Scheme. 

The extensive range of eligible investments/assets is listed below:

Funds and equities

• Stocks and shares listed or dealt on any HM Revenue and Customs (HMRC) recognised stock exchange, including:
  • equities
  • fixed interest securities issued by governments or other entities
  • debenture stock and other loan stock
  • permanent interest bearing shares
  • convertible securities
• Alternative Investment Market (AIM)*
• Authorised open ended investment companies (OEICs)
• Authorised unit trusts that do not hold residential property
• Equities traded on a recognised overseas stock exchange
• Offshore funds recognised by the Financial Conduct Authority (FCA)
• Shares in investment trusts
• Exchange traded funds (ETFs) (Legal Entity Identifiers may be required)
• Trustee investment plans
• Undertakings for Collective Investments in Transferable Securities (UCITS)**

*Although shares on the AIM market are not treated as listed on a recognised stock exchange, we treat AIM listed shares as a standard asset and therefore there is no restriction on the amount that can be held. However, before we will accept AIM shares within our schemes, they must be referred to our Dentons Investment Committee for approval. Please email: technical@dentonspensions.co.uk

**Although UCITS are considered standard investments, a further review must be carried out on the underlying sub-fund to confirm this does not involve any unacceptable assets.  Please provide further product information to your contact at Dentons for review. 

Other assets

• Deposit accounts with any UK authorised financial institution
• Depositary interests (including CREST depositary interests)
• Government Bonds
• Insurance company managed funds and unit-linked funds
• Investment grade gold bullion (subject to certain conditions)
• ​National Savings and Investment (NS&I) products - only certain products are allowed, depending on availability. Premium Bonds and Direct Saver Accounts are not permitted
• Real estate investment trusts (REITs).

Commercial Property

• UK commercial property (including land, whether development land or farmland). More complex arrangements include where there are multi-participants and/or where a mortgage is required.
• Borrowing can be taken out by the pension scheme trustees to help buy a permitted asset provided it is on commercial terms and within HMRC limits.
• All proposed acquisitions will be subject to Dentons' due diligence and our Commercial Property Questionnaire will need to be completed in all cases.

Loans

• Secured loan to the sponsoring employer (subject to certain criteria). Security will be required for this loan in the form of UK land or property*

* Please complete and return the appropriate investment form(s)/questionnaire(s) which can be downloaded from our website or provided on request.

Non-standard assets

The following investments will require comprehensive information in order to assess whether or not they are acceptable and if any conditions need to apply:

• Property syndicates
• Unquoted UK equities
• Structured products
• Loans to unconnected unquoted UK limited companies. Security will be required for this loan in the form of UK land or property

In order for a proposed investment in any of the aforementioned asset types to be considered, please complete and return the appropriate investment form(s)/questionnaire(s). 

Unacceptable assets

We do not accept any of the following assets as they may give rise to tax penalties on you and/or your SSAS with Dentons, or loss of protection:

• Bed & breakfast units
• Carbon credits
• Cloud lending
• Commodities other than investment grade gold bullion
• Cryptocurrency - Direct and Indirect Cryptocurrency Investments. This includes Cryptoassets held as ETPs (Exchange Traded Product)
• Forestry
• Futures, warrants, options and binary options
• Hedge funds
• Individual CFD and FX accounts
• Individual hotel rooms
• Land banking
• Litigation funding
• Loans to individuals or connected parties
• Off-plan hotel developments
• Overseas commercial property and land
• Overseas unquoted equities
• Storage pods
• Taxable property – defined by HMRC as residential property and tangible movable property (including personal chattels)
• Unregulated collective investment accounts (UCIS)
• Unsecured loans.