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DB schemes that provide GMPs must revisit and, where necessary, top-up historic CETVs
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 instalment of...
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