As the world embraces digital assets, incorporating cryptocurrency into a Small Self-Administered Scheme (SSAS) pension is becoming increasingly attractive. Our partnership with Wealth99 allows us to offer a platform that is compatible with SSAS pension funding. While traditional investments remain important, including cryptocurrencies in a SSAS pension portfolio can provide several unique benefits that may enhance long-term retirement planning.
These benefits could include:
- Diversification and Potential for Higher Returns
- Hedge Against Inflation and Currency Risk
- Tax Efficiency
- Global Access and Liquidity
- Innovative Technological Advancements
- Increased Financial Control and Autonomy
- Potential for Early Adoption Benefits
To learn more about these benefits, visit the following link.
Assuming you are interested, how can you add cryptocurrency to your SSAS pension you may ask. Here’s A Step-by-Step Guide to help you navigate the process with confidence.
Step 1: Understand the SSAS Pension Rules
Before delving into the world of cryptocurrencies, it's crucial to familiarise yourself with the specific rules and regulations governing SSAS pensions. These rules may vary depending on your jurisdiction, so it's advisable to consult with a qualified financial advisor or pension specialist. Gain clarity on the investment options available within your SSAS pension and the level of risk that you're comfortable with. We can help you with this by connecting you with SSAS pension specialists. Please get in touch for more information.
Step 2: Research and Educate Yourself
Cryptocurrencies can be complex, so it's essential to have a good understanding of how they work before adding them to your SSAS pension. Myna and Wealth 99 offer a plethora of information designed to help you educate yourself on different cryptocurrencies, blockchain technology, and the potential risks and rewards associated with digital assets.
Step 3: Select a Cryptocurrency Platform
To add cryptocurrencies to your SSAS pension, you need to choose a reliable cryptocurrency provider that aligns with your needs. The Wealth99 platform is a perfect example. Look for a reputable platform that offers robust security measures and a user-friendly interface. Additionally, Wealth99 provides access to digital asset experts - real human beings who will assist you throughout your digital asset journey. This is a unique feature in the digital asset world!
Step 4: Establish a SSAS Pension Trustee Wallet
To include cryptocurrencies in your SSAS pension, you must set up a dedicated pension trustee wallet. This wallet is separate from your personal cryptocurrency wallets and ensures compliance with pension regulations. Wealth99 provides a trustee wallet for this purpose and has worked with pension providers to ensure full compliance with SSAS pension regulators.
Step 5: Complete the Necessary Documentation
Incorporating cryptocurrencies into your SSAS pension requires completing documentation and compliance procedures. Your SSAS pension trustee or provider can help you with the necessary paperwork, investment agreements, and any additional requirements. It is important to ensure that you accurately complete all required documentation and promptly provide any requested information.
Step 6: Fund Your SSAS Pension
Once the trustee wallet is established on the platform, you can fund your SSAS pension with the desired amount of capital to invest in cryptocurrencies. This can typically be done through a transfer from your existing pension funds or by making a contribution specifically earmarked for cryptocurrency investments. Follow the instructions provided by your SSAS pension trustee or provider to ensure a smooth transfer of funds.
Step 7: Start Investing in Cryptocurrencies
If you have funds in your SSAS pension that you want to allocate to cryptocurrencies, log in to your chosen cryptocurrency provider/platform and execute your investment strategy. If you choose Wealth99, their team can guide you through the process. They can help you conduct thorough research, analyse market trends, and consider diversifying your investments across different cryptocurrencies to manage risk effectively.
Step 8: Monitor and Review Regularly
As with any investment, it is crucial to regularly monitor and review your cryptocurrency holdings. Stay informed about market developments, regulatory changes, and potential risks associated with cryptocurrencies. Periodically review your investment strategy and consider rebalancing your portfolio if necessary to align with your long-term retirement goals. Wealth99 will provide you with all the information you need to assist you with this, and by working with your SSAS pension provider, they will ensure that you have access to all the necessary information.
Incorporating cryptocurrencies into a SSAS pension can offer diversification and potential growth opportunities. By following these step-by-step guidelines, you can confidently navigate the process of adding cryptocurrencies to your pension portfolio. Remember to seek professional advice, stay informed, and regularly review your investments to make informed decisions that align with your pension goals.
Through Wealth99, we can connect you with expert SSAS pension providers who can provide further information tailored to your individual circumstances. Additionally, we can inform you about how you can incorporate digital assets into your SSAS pension using the Wealth99 platform. Click here to schedule a free 1:1 video call with a member of the Wealth99 team.
The information provided in this document does not constitute investment advice, financial advice, trading advice or any other sort of advice and you should not treat any of this document’s content as such. You should carefully consider whether trading or holding cryptocurrencies is suitable for you relative to your financial position. Cryptoassets carry high risk. Due to the potential volatility of the cryptoasset markets, the value of your investments may fall significantly and lead to total loss. Cryptoassets are complex and are unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. Wealth99 use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.
The information in this article is believed to be reliable. Nephos and Myna have taken reasonable care to ensure the information stated is accurate. However, Nephos and Myna make no representation, guarantee or warranty that it is wholly accurate and complete. Do conduct your own due diligence and consult your financial adviser before making any investment decision.
