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.

If you haven't found all the answers that you are looking for you can find similar content in the Auto Enrolment, Pension Glossary sections, contact an adviser at the top of the page, or you could try these related posts:

		Axa Pensions About AXA AXA is a huge company that concentrates on providing health insurance, protection and pensions among other things for its clients. Its headquarters are...
		Group Personal Pensions Sometimes a small employer wants to offer pension provision for their staff, but their size does not warrant a large defined contribution scheme. In these cases...
		Employer Group Scheme With the coming of auto-enrolment many employers are not sure about what their responsibilities are. We have partnered with financial advisory firms who can explain...
		Personal Pension Plan This is a retirement savings scheme run by a bank or life assurance company. The plan is just for the holder of the plan. Usually the holder will be self-employed...
		Pension Transfer Terminology The jargon used in the pension industry can be confusing. Rather than staring blankly at your financial advisor while he/she explains the nuances of pension transfers,...