Skip to main content
Retired couple with black labrador

Pension Accounts - SIPP & SSAS

Self Invested Personal Pension (SIPP)

What is a SIPP?

A SIPP, otherwise known as a Self-Invested Personal Pension, is the name given to the type of UK government approved personal pension scheme, which allows individuals to make their own investment decisions from the full range of investments, including cash deposits, approved by HM Revenue & Customs (HMRC).

If you already have a pension scheme with a Scheme Administrator, your money will be being invested in a variety of means, unless you have selected alternative arrangements, and it’s not always easy to see or understand what’s happening with your money. A SIPP cash account is an example of an alternative arrangement.

Why would I want to open a SIPP cash account?

Many SIPP customers choose to hold an element of cash in their SIPP, particularly as they near retirement so that they can reduce risk and increase liquidity.

Offering competitive rates and a variety of product options, a Teachers Building Society SIPP account is an opportunity to safeguard a portion of your pension and hold the money as cash as opposed to stocks and shares. 

Who can open a SIPP?

A SIPP account can be opened by anyone who has a pension who is able to deposit an opening investment of between £1,000 and £500,000. Please note that should the balance drop below the minimum of £1,000, we reserve the right to close the account.

Small Self-Administered Scheme (SSAS)

What is a SSAS?

A SSAS, otherwise known as a Small Self-Administered Scheme, is a small occupational pension typically designed for director-level and above employees of a limited company. They can be open to all employees and their family members even if they don't work for the employer and are usually limited to 11 members.

Why would I want to open a SSAS account?

The key benefit of opening a SSAS cash account is that it can offer the employer increased flexibility ​inwhere they can invest their funds, such as in a cash deposit account which minimises risk should members be close to reaching retirement age.

Who can open a ​SSAS?

A ​SSAS account can be opened by anyone who has a pension who is able to deposit an opening investment of between £1,000 and £500,000. Please note that should the balance drop below the minimum of £1,000, we reserve the right to close the account.

What pension account options do Teachers Building Society provide?

EASY ACCESS PENSION (ISSUE 1)

A straightforward SIPP/SSAS account allowing for easy withdrawals and offering a competitive interest rate.
Find out more

PENSION 30 (ISSUE 1)

An attractive ​variable rate and unlimited withdrawals subject to 30 days' notice.
Find out more

PENSION 90 (ISSUE 1)

An attractive ​variable rate and unlimited withdrawals subject to 90 days' notice.
Find out more

SIPP CASE STUDY

A scenario in which a SIPP account with Teachers can benefit an individual's pension pot.
Find out more

Newsletter Sign-up

Our email newsletters are sent once a month and contain useful features and articles ​as well as product and service updates.
Keep up to date >

SSAS CASE STUDY

A scenario in which a S​SAS account with Teachers can benefit an individual's pension pot.
Find out more


Speak to your Scheme Administrator to enquire about setting up a Teachers Building Society SIPP cash deposit account. Scheme Administrators can call our Savings Team on 0800 783 2367 to discuss our SIPP account in more detail or you can call directly to discuss our SSAS account.

Contact Us.

Click Here >

Let us call you back.

Click here >

Online Enquiry.

Click Here >