group personal pension plan/group personal pension scheme (GPPP)
An arrangement for the employees of a specific employer to participate in a personal pension scheme on a group basis. A GPPP is effectively a series of individual personal pensions (not a common fund) provided by a single life insurance company. The pension fund belongs to the employee and can be taken with him when he leaves his employment. Benefits in a GPPP accrue on a money purchase basis (See money purchase scheme/money purchase plan).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.