Group Personal Pensions are basically a collection of personal pensions, set up by an employer as the company pension scheme. The employer collects the contributions and pays them to the provider. In most instances the employer also contributes to the employee's pension plan.

The benefit to the employer is tax relief on their contributions, as these are allowable as a business expense.

GPPs benefit the employee as the charges and administration costs are usually less than those for an individual pension plan.

The rules for GPPs are the same as those that apply in individual personal pensions. Members of the GPP make their own decision on contracting out.

Group Pension Schemes are set up and tailored to meet a Company's particular requirements.

If you are looking to set up a group pension scheme for your company, Keegan & Pennykid (Insurance Brokers) Ltd have over 30 years experience in pension administration and management and would be delighted to help you choose the right pension scheme for your company and your employees.