There are still thousands of insurance company Executive Pension Policies (EPPs) in existence which are usually thought to be untouchable as they include protected tax-free cash (from A Day - 6th April 2006). There is however a method to convert these schemes into SSASs which will enable the funds to be accessed and used for investment strategies such as platform accounts, discretionary fund management accounts, commercial properties, loans, and a wide variety of other investment options.

An EPP is simply a one-person occupational pension scheme established under trust with the fund held in an insurance company policy. Provided the trust is stand-alone and not a master trust, the scheme can be converted to a SSAS.

The existing trust documentation therefore needs to be examined to ensure the scheme is a stand-alone trust.Once this is confirmed the conversion involves three simple steps: