How Does Gpp Pension Work

Group personal pensions (GPPs) are a type of defined contribution pension which some employers offer to their workers. As with other types of defined contribution scheme, members in a GPP build up a personal pension pot, which they then take money from when they retire.

Is a GPP a registered pension scheme?

An employer may offer its employees membership of a ‘group personal pension’. This will not be a registered pension scheme in its own right.

Is a group personal pension a workplace pension?

A group personal pension is a type of workplace pension set up by your employer. It’s a collection of individual pension plans – and one of these plans will belong to you. Depending on your age and salary, you’ll be automatically enrolled into your employer’s group personal pension. You don’t need to do anything.