EXCLUSIVE RESEARCH: Group personal pension (GPP) plans remain the most popular primary workplace scheme, according to the Employee Benefits/Close Brothers Pensions research 2015.
The research, which surveyed a total of 259 respondents in September 2015, found that while 68% of repondents offer this type of scheme as their organisation’s primary workplace pension arrangement, this percentage has declined slightly from the 78% that did so in 2014’s Employee Benefits/Close Brothers Pension research, published in November 2014. But, although figures have slightly dropped, the contract-based defined contribution (DC) GPP scheme has remained the most popular type of pension offered by respondents since 2005.
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Master trusts also remain popular schemes offered by employers, as shown by the 22% that cited it as their primary workplace pension plan this year.
Trust-based DC schemes are offered by a larger percentage of respondents this year: 45% now offer it as their primary pension scheme and 8% as their secondary, compared to 40% and 3%, respectively, in 2014.
