GMP

Just one in five schemes has reconciled guaranteed minimum pensions, according to research carried out by Professional Pensions.

In this week's Pensions Buzz we want your opinions on early exit fees and transfer processes.

Top stories this week include the Pensions Ombudsman's dismissal of a GMP equalisation claim; the MIRA Retirement Benefits Scheme's £70m buyout; and Newham Council's proposal for an asset-backed contribution structure.

Administrators should be more assertive and take a leadership role in the pensions industry, according to Pensions Administration Standards Association (PASA) board member Geraldine Brassett.

The Pensions Administration Standards Association (PASA) has announced the members of its Guaranteed Minimum Pensions (GMP) working group.

The pressure is on with GMP reconciliation

Most of the industry believes The Pensions Regulator (TPR) should focus on improving member outcomes rather than minimising the risk of detriment, according to research from PP.

Pension freedoms are in fashion however, there are also other important administrative tasks that should not be forgotten says Michael Klimes.

The majority in the industry back the action taken by trustees and insurers to block transfers to schemes they suspect may be fraudulent.

The industry must get its act together as the government will not give schemes more time to reconcile guaranteed minimum pensions (GMP), warns Equiniti.