Updated: Landmark GMP ruling 'significant challenge' for schemes

Holly Roach
clock • 7 min read

Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.

It also stated that trustees that did not calculate a GMP when making the transfer may have "committed a breach of duty" if they made an "inadequate" payment. The judgment in the second instalme...

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Holly Roach
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Holly Roach

News Editor at Professional Pensions

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