Group Pensions Schemes

A Group Personal Pension (GPP) scheme is a collection of personal pension plans provided by you for your employees. Each member will get their own plan, which you can both contribute to. We invest the contributions in funds so they can buy an annuity (pension) when they retire.

We provide a range of products and services for employees and trustees. From workplace pension schemes and auto-enrolment support, to bulk purchase annuities and work-life benefits. Our independent financial advisers will review your group pension arrangements, ensuring they meet the needs of your employees as well as those of your business.

We can offer initial communications to employees through to annual reviews, as well as provide you with ongoing corporate governance and guidance on legislative updates.

Auto-enrolment

The government introduced auto-enrolment from 1 October 2012. It will improve the living standards of millions of people when they retire.

Under the rules, employers have to automatically enrol eligible workers into a company pension scheme, if they aren’t already in one, make contributions to their pension fund, and perform other duties, too.

The Pensions Regulator can take severe enforcement action. To give you an idea, businesses with over 50 employees could face fines of around £75,000 a month (based on an escalating daily rate of £2,500). You can find out more on the Pensions Regulator’s website.

If you don’t already have a pension scheme, we can help you set one up. We can offer a range of tools and advice to help you deal with auto-enrolment, including planning support to help you get ready in time for your staging date.