GMP Equalisation

The industry speaks with a rare degree of unanimity on GMP equalisation: it is unnecessary and, if carried out in the way preferred by the Department for Work and Pensions, extremely expensive.

Sackers has called on the government to rethink plans to equalise scheme benefits, arguing the legislative changes could push schemes into the Pension Protection Fund.

Letter to the editor...

Changing the way in which GMP equalisation is implemented could save schemes around £5bn, Aon Hewitt believes.

Here they are… The top ten practical difficulties with equalising to allow for guaranteed minimum pensions.

The government has laid out how plans on schemes should go about equalising guaranteed minimum pensions.

The method chosen by the Department for Work and Pensions for equalising guaranteed minimum pensions could be challenged, a lawyer says.

The government has today laid out how schemes should go about equalising guaranteed minimum pensions.

The Pension Protection Fund has finalised how it will equalise guaranteed minimum pensions and started a six-month pilot project to test its methodology.

There is little hope government will not legislate to deal with the problem of guaranteed minimum pension equalisation, delegates heard.