GMP Equalisation
HMRC delays crucial GMP data until end of year
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
Back to Buck: How the consultancy returned to its roots
After many changes in name and ownership over the past 22 years, Buck has gone back to its roots. David Piltz tells Stephanie Baxter why being smaller and nimbler is better
DWP publishes GMP conversion guidance
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
What GMP conversion guidance will mean for schemes
GMP conversion guidance is expected imminently, but what will it mean for schemes? Maurice Titley looks at the next steps for trustees.
XPS launches GMP equalisation service for schemes
XPS Pensions Group has launched an 'EqualGMP' service for pension schemes to navigate through the process of equalising guaranteed minimum pensions (GMP).
Schemes make slow progress with GMP equalisation five months on
Many schemes are still sitting on their laurels despite the High Court judgment on equalising GMPs being handed down five months ago. Holly Roach explores how much progress has been made.
One third of schemes have calculated transfer values for GMP equalisation
One third of schemes have calculated transfer values for guaranteed minimum pension (GMP) equalisation, according to last week's Pensions Buzz respondents.
HMRC forms GMP equalisation working group five months after Lloyds judgment
HM Revenue and Customs (HMRC) has formed a working group to help schemes consider the pension tax issues arising from the guaranteed minimum pension (GMP) equalisation process.
95% of JLT's pension clients now quoting transfer values allowing for GMP equalisation
The vast majority of JLT Employee Benefits' clients have moved to the new equalised basis since the consultancy enabled pension schemes to calculate transfer values to allow for guaranteed minimum pension (GMP) equalisation.
GMP equalisation to 'cost half as much as expected'
The cost of equalising guaranteed minimum pensions (GMPs) has been revised down by around £7bn, nearly half that of an initial £15bn estimate.
The pension court cases to watch in 2019
A groundhog year kicks off as many of 2018's biggest court cases return on appeal. James Phillips rounds up what trustees should keep an eye on.
Insurers favour conversion method of GMP equalisation, Hymans Robertson finds
Insurance companies offering buy-ins and buyouts prefer pension schemes which adopt the D2 method of equalising guaranteed minimum pensions (GMPs), Hymans Robertson has found.
Taylor Wimpey pension liabilities to increase £16m under GMP equalisation
Taylor Wimpey has said its defined benefit (DB) pension liabilities will increase by £16m following the High Court judgment to equalise guaranteed minimum pensions (GMP) for men and women.
Phase in dashboard compulsion gradually, says industry
Smaller schemes should be given more time to prepare data for the pensions dashboard while larger counterparts should be brought on earlier, this week's Pensions Buzz respondents say.
Five stories you may have missed this week
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
Lloyds secures 630,000 pension customers with 'strong progress' towards one million by 2020
Lloyds Banking Group secured 630,000 new pension customers last year, according to its 2018 annual results.
GMP equalisation could land DB members with six figure tax bill
More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.
RBS reports £100m GMP impact; slashes equity exposure by two thirds
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Aligning pensions admin with the 21st century
Holly Roach speaks to PASA's Kim Gubler about the year ahead, how technology is developing to help the industry and the benefits of the pensions dashboard.
Industry must step up planning to achieve desired GMP outcomes, says Aon
The industry needs to step up efforts to ensure guaranteed minimum pension (GMP) equalisation exercises are completed in time, and in a cost effective way, according to Aon.
Industry agrees trustees need professional help with comms
Trustees do need professional help with member communications as suggested by the review into British Steel Pension Scheme case, this week's Pensions Buzz respondents said.
GMP equalisation to cost less than 1% for over half of schemes, says XPS
The cost of equalising guaranteed minimum pensions (GMPs) will be less than 1% of total scheme liabilities for over half of all schemes, XPS Pensions has found.
The key considerations for dealing with GMP equalisation
Panellists at a PP webinar discuss October's High Court judgment on GMP equalisation, how schemes have responded, what their strategies should be, and how the industry can approach it.
Buck unveils solution to GMP equalisation challenge
Buck has launched a solution to help pension schemes equalise guaranteed minimum pensions (GMPs) in a cost effective way with minimum hassle.
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