We’ve been keeping you up to date on the outcome of a High Court judgment made in 2018 about Guaranteed Minimum Pensions (GMP) and what this may mean for members of the Scheme.
You may remember that the courts ruled it is unfair to pay people different amounts of GMP based on different retirement ages due to their gender. Pension schemes like ours must try to make sure GMP built up between 17 May 1990 and 6 April 1997 is equal between men and women.
We’ve been busy working with the Company and our advisers to put in place a process for carrying out the calculations to equalise members' pensions who had built up GMP during this period. You do not need to take any action at this time as we will update those directly affected as soon as we can. To find out more about GMP equalisation go to www.mandspensionscheme.com/equalising-gmps