Pensions Law Summary - GMP Equalisation

In this summary, we explore how schemes with GMPs can identify and correct underpaid pensions following the outcome of the landmark Lloyds case

20 September 2021

Welcome to Burges Salmon’s Pensions Law Summary on GMP Equalisation.

Our pensions law summaries aim to simplify complicated topics in pensions law and provide practical steps for employers and trustees. These summaries cover a range of topics including master trusts, GDPR and alternatives to buy out.

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Guaranteed Minimum Pensions (GMPs) have historically been tied to different ages for men and women and pension schemes with GMPs must now equalise benefits to account for this unequal effect. This is an industry-wide issue and there are different methods that schemes can choose to equalise. We look at the main GMP equalisation requirements for schemes in our summary and consider practical steps that schemes can take.

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Alice Honeywill

Alice Honeywill Partner

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