You may remember that there has been a legal change which means pension schemes like ours need to check that any Guaranteed Minimum Pension (GMP) built up between 1990 and 1997 is equal between men and women.
Since the ruling was announced by the High Court in 2018, we’ve been providing updates on our progress towards equalising GMPs. It's been a complex process that has involved reviewing the legal details and how this applies to members’ pensions.
The next step is to complete the necessary calculations. Once this has been finished, we’ll write out to retired members whose pensions are affected. For those members who have not yet retired any increase in pension resulting will be reflected in future benefit quotations provided either by Capita or on the member Portal. At this stage, we’re not able to say how long this may take.
If you’d like to know more about GMP equalisation, go to www.mandspensionscheme.com/equalising-gmps