New SSAS and Sipp launched

Momentum Pensions has launched a new SSAS and Sipp. Paul Forman, a Chartered Financial Planner and head of sales (UK & EU) for the Manchester based firm, told Sipps Professional there had been increased interest in both types of pension.He said: “Although a more specialised area of planning, we believe that now is the perfect time to relaunch our SSAS proposition. Businesses of all sizes want to borrow in order to expand as the prevailing economic conditions improve but can often find that they are restricted by the banks with regards to access to lending. For some companies a viable alternative could be to access funding via a loan using the SSAS pension instead.”He said: “We have seen an increase in demand for Sipp & SSAS solutions now that the death benefits that can be provided are more tax-efficient and available to a wider class of beneficiaries since April 2015.“An example of this is where some clients may have previously insisted that ‘my business is my pension’ but feedback from advisers tells us that due to the new flexibilities even these clients are now prepared to look at the opportunities that exist for them to incorporate a tax-efficient pension into their business planning.”{desktop}{/desktop}{mobile}{/mobile}The Pro Sipp is described as “a bespoke personal pension that allows the member to determine their investment while investing in an even wider range of different assets, including commercial property and unquoted shares.”The SSAS was labelled “a bespoke company pension scheme, ideal for directors of family and other privately owned companies.”Mr Forman told Sipps Professional: “The Sipp is an important market for the wider Momentum Group, especially after the recent UK pension changes.“We firmly believe that the ability of a Sipp to provide control, greater investment choice and flexible retirement income options will see an increased focus on this type of pension going forwards - not only here in the UK but also overseas from our international introducers with expat clients.”Meanwhile, the company has also announced the appointment of a new business development manager.Maria Betti joins the Manchester office, having most recently worked with Curtis Banks as a regional account manager in London and the South East.She has extensive experience from years working with financial institutions, including London & Colonial and Royal Bank of Scotland.She will work alongside Mr Forman, with the aim of “further enhancing our business, focusing on the South East and London”.

New SSAS and Sipp launched

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