Group Personal Pension Plans are also Money Purchase arrangements, however they are dealt with under different tax regimes and are designed to be more portable for the employee.
This means that if he/she leaves service, he/she can take his/her plan with
him/her and continue to contribute to it with his next employment.
Contributions are no longer limited depending on age and annual salary following changes to the law in April 2006. Investors can now make very large contributions and save a lot of tax. Benefits at the end of the day will depend on the size of the fund accrued and the prevailing annuity rate at the time.
Charlwood Leigh can help you as an employer to organise a Group Personal Pension Scheme for your staff.
If you yourself are a member of a Group Personal Pension Scheme, leaving service, we can help you to move your pension from your current employer to your new employer.
Please
contact us
for further information.
