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Moneyextra.com Dictionary
Group Personal Pensions GPPs
Group personal pensions are a half way house between personal pensions and occupational pension schemes . They are money purchase schemes but with notable differences to ordinary occupational money purchase schemes. A GPP is essentially a cluster of individual personal pensions; not a common fund. The scheme will be administered by a life insurer and in theory at least the running costs ought to be lower than taking out a personal pension plan because of economies of scale. The advantages of GPPs are The disadvantages of GPPs are