DWP proposes GMP revaluation rate reduction

The consultation proposes a reduction in the GMP revaluation rate from 3.5% to 3.25%

Holly Roach
clock • 2 min read
The proposed rate does not include an additional premium of 0.5%
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The proposed rate does not include an additional premium of 0.5%

The Department for Work and Pensions (DWP) has launched a consultation proposing to lower the fixed rate revaluation rate for early leavers from 3.5% to 3.25%.

Where a member of a formerly contracted-out pension scheme leaves the scheme before pensionable age - an ‘early leaver' - the scheme must revalue their GMP until it becomes payable at pensionable a...

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