Group Pensions
Group Personal Pension (GPP) plans are a collection of Personal Pension Plans arranged by an employer for their employees. It is designed on a group basis so that it is easier to administer and in turn results in better cost effectiveness for the employer. An individual person pension is set up for each employee, and is designed to help an employee invest for their retirement.
GPP’s are flexible plans, where the employer and the employee can decide what level of contributions to make. Essentially, a GPP operates under the same rules as a regular personal pension plan; it involves regular payments to a pension provider, who is then made responsible for investing this money in order that the pension fund grows.
Most employers offer their employee’s access to a GPP as in many cases this is a deciding factor in the choice of whether or not an individual chooses to work for a particular company as an effective pension scheme is vitally important for security and comfort in retirement.
Establishing the right package of benefits involves a multitude of decisions regarding providers, structure, administration and communication. To ensure a smooth and straightforward implementation, turn to those who have the relevant expertise and advice.
We provide advice to employers on the selection and implementation of GPPPs. This includes contribution design, investment choices, risk benefit selection and administration and communication strategies.
