The reconciliation and rectification sub-committee of the Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published guidance on when to rectify for the effects of equalisation.
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Pension schemes have been warned they may now face a more challenging legal test if they wish to fix drafting errors.
The Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published a call to action to assist schemes in the first stage of the process.