Group Personal Pension – Pensionfinder
A Group Personal Pension is a collection of personal pension plans which an employer sets up for hi or her staff. Each member has their own personal pension plan which they make contributions to. The employee may get a discount on the set up and annual management charges for their personal pension, as the pension provider may give these in return for the bulk buying of pension plans. At the moment, employers are not required to make contributions to their employee’s pension plan as part of the GPP, although this will change once auto-enrolment is rolled out.