• Financial services and advice given on a corporate or group scale is very different to that of personal financial services. For that reason, if you are running a company or partnership, speak to MAP today about setting up or reviewing your group pension.
    A group pension is basically a number of personal pensions for a group of people – normally employees of a company – done collectively.

Group Personal Pension Plans (GPPPS)

There is no technical difference between individual personal pensions and group pensions other than an administrative one. If staff are not looked after, the workplace could become an unhappy one.

An employee of a company running a group scheme should find out how much their employer pays into the scheme. NEST – the National Employment Savings Trust – is soon to be be introduced to the UK and is the Government’s attempt to ensure that all employees will eventually have a pension of some sorts through their employer.

Employers should be aware when NEST starts so they contribute, and correctly. Employees should do likewise, so they are treated fairly and legally. Once your employer starts paying into a scheme for you, try and find out the funds available to the plan. This shows where the money is invested, and the likely performance.

Your money could be placed in a fund and very little else happens with it. Remember that you at the end of the day are responsible for your own pension. You therefore need to either take an active interest in how it is invested, or ensure someone else does.

Using our bespoke investment strategy, MAP will do that for you. We do the work so you do not need to, whether it is reviewing existing schemes or setting up new ones for a firm. So whether you are employer or employee, contact us today.