A Group Personal Pension (GPP) is a workplace retirement plan where employees join a single, shared personal pension scheme (like money purchase) through their employer, but each person has their own individual pension pot, not a shared fund. The employer collects contributions (from both employee and employer) and pays them to the pension provider, and the employee owns the pot, taking it with them when they change jobs, making it portable.
| Minimum Group Size | 10 Employees |
|---|---|
| Minimum Age at entry | 14 year age is last birthday |
| Maximum Age at Eatry | 75 age is last birthday |
| Maximum Exit Age | 76 Last Birthday |
| Policy Term | Annually renewal |
| Mode | Yearly |
| Minimum Initial Contribution | In Accordance with the funding requirements as per the scheme rules. The Trustee or employer or policyholder shall be required to confirm that such funding is required as per Extant accounting standard Governing the measurement of long term employee benefits |
A Group Personal Pension is ideal for organizations seeking a flexible, cost-effective, and employee-friendly retirement solution. It balances employer involvement with employee ownership, ensuring security today and financial independence tomorrow.