Glossary of Terms


The name given to the day when HMRC swept away the previous pension tax regime with the aim of replacing it with a more simplified approach. It was 6 April 2006.


The official Administrator (note: with a capital “A”) for HMRC purposes of the pension arrangement. (May not necessarily be the same person performing the actual day-to-day administration services).


Her Majesty’s Revenue & Customs, previously the Inland Revenue.

Inland Revenue


Pensioneer Trustee

An individual or company with pensions experience appointed to a SSAS as a condition of its HMRC approval. No longer necessary since A-Day but most were retained and became the SSAS’s professional trustee instead.

Professional Trustee

See Pensioneer Trustee above for SSAS.

For a SIPP, usually the provider or its associated company.

Scheme Administrator

See Administrator.


See Self-Invested.


Refers to the ability for members to specifically choose their own investments rather than, say, accepting a range offered by an insurance company, for example.


Stands for “self-invested personal pension” and is a personal pension.


Stands for “small self-administered scheme” and is an employer-sponsored occupational pension scheme.