GMP Equalisation

The government is reconsidering its advice on GMP equalisation in an attempt to make the process "as painless as possible", Steve Webb has announced.

Funding deficits is still seen by trustees and sponsors as the most significant risk facing schemes, Metlife research shows.

More than one-third of private sector employers support the government's view on guaranteed minimum pensions requirements, a JLT Benefit Solutions study shows.

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.