Momentum Pensions has launched two new pension scheme types; the full version of its self-invested personal pension scheme, the Pro Sipp and a small self-administered scheme.
Like the Momentum Sipp which has already launched, the Pro Sipp is a bespoke personal pension that allows members to determine their investment while investing in an even wider range of different assets, including commercial properties and unquoted shares.
Momentum said that benefits are defined by the contributions paid in and the investment return on those funds, and gives access to the pension freedoms and flexibility that became available from April 2015.
It added that the Ssas is a bespoke company pension scheme set up by shareholding directors.
The Ssas can make loans to a sponsoring employer, making the Ssas particularly attractive to high-net worth business clients. It can also take full advtange of the income withdrawal rules, with the ability to take benefits as a lump sum, capped drawdown or flexi-access drawdown from age 55.
Both the Pro Sipp and the Ssas are available through Momentum’s Manchester business. This follows Momentum’s acquisition of the controlling stake in its Manchester-based business.
Alongside these new products, Maria Betti has also joined the group as business development manager.
She most recently worked with Curtis Banks as a regional account manager in London and the south east. Ms Betti will be working alongside Paul Forman, head of sales for UK and Europe, and will be based in Momentum’s Manchester office.
Stewart Davies, Momentum chief executive, said: “Maria comes on board at a significant time for the group.
“2015 has been a year of considerable success for Momentum, and Maria’s appointment promises to add to that. She has a wide knowledge of the industry, and will take responsibility for driving the development of our business in London and the south east, a key region.”
ruth.gillbe@ft.com
