GMP Equalisation

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.

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 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.

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.

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 Banking Group secured 630,000 new pension customers last year, according to its 2018 annual results.

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.

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.

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.

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.