What is a group personal pension (GPP)?
A group personal pension is a defined contribution (DC) arrangement whereby an employer agrees to make monthly contributions into a scheme, but the contract is between the employer and the pension provider.
The pension freedoms that were announced in the 2014 Budget, and came into effect in April 2015, gave employees more choices and greater flexibility over their retirement options. Prior to this, a GPP contract ended when the scheme member retired and bought a secure income, an annuity, with the proceeds, with no obligation on the employer to pay retirement benefits to […]
Full Post at employeebenefits.co.uk