Group Personal Pensions
A group personal pension (GPP) is a collection of individual pension plans set up as a group.
A GPP is a type of defined contribution pension which some employers offer to their workforce. As with other types of defined contribution schemes, members in a GPP built up a personal pension pot, which they then convert into an income at retirement.Employer:
By understanding your company and employee’s needs, Mattioli Woods will advise you on the best investment option for your GPP and also advise individual members (they will be able to choose their own investments (based on their risk profile) or simply stick with the default funds). Our team will also deal with any technicalities that come with scheme administration.
A group personal pension scheme offers:
- A defined cost
A group personal pension scheme offers members:The contributions may benefit from tax relief.If you are a higher rate taxpayer you can claim additional tax relief through your self-assessmentYour savings are allowed to grow in a tax-efficient way.If you die before you start taking your pension, it can be paid as a tax-free lump sum to your family or someone of your choosing.
For more information on how we can help you, please contact us.