The self-invested personal pension is designed as a new concept, according to the firm, which said in a statement it was for savers looking for “commercial property investment with a simplified fee structure that has charges clearly stated upfront”.
The launch forms part of a wider Sipp range offered by Momentum following feedback from advisers and clients who highlighted growing “demand for increased transparency over charges and the level and number of fees”.
The feedback highlighted concerns that complex fee structures made it difficult to compare providers.
The new range includes Momentum Core Sipp, a standard Sipp, Momentum Property Sipp, and Momentum advanced Sipp, an open architecture solution sophisticated investors.
Momentum also offer a standalone International Sipp specifically designed for non-UK residents.
John McCreadie, head of sales of UK for Momentum Pensions, said: “Advisers continue to highlight the need for clarity over charges and the demand for a system where they can easily compare products without having to wade through endless reams of complicated small print has never been higher.
“There is a particular lack of clarity in the property purchase market which is an area that needs addressing urgently and the Momentum Property Sipp is designed to do that.”
