UK - The Pension Protection Fund (PPF) has launched a consultation to equalise compensation it gives to men and women.
The organisation has developed a PPF-specific solution to ensure all members would receive the same overall compensation where it would otherwise have been unequal due to differences in guaranteed minimum pensions (GMPs), brought about by differences in state retirement age.
Martin Clarke, director of financial risk, PPF, said: "We believe we have come up with a workable solution tailored to pension schemes being assessed for entry into the PPF now and in the future. This is something we have to do by law."
"We are determined to ensure that ours is a pragmatic solution which will minimise the extra burden we know this is likely to place on trustees as they take their schemes through the assessment process.
"We have strived to strike the right balance between the cost of achieving this solution and ensuring fairness for all our members. We now want to hear people's views on our proposed way forward," Clarke concluded.
The PPF will be consulting on its solution during the next three months before finalising its proposals.
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