Update on GMP Equalisation

03 November 2020

Last year, we told you about a High Court judgment made at the end of 2018 in relation to Guaranteed Minimum Pensions (GMPs). It confirmed that pension schemes like ours need to make sure GMPs built up between 17 May 1990 and 6 April 1997 are equal between men and women.

Since then, the Department for Work and Pensions, HMRC and an industry working group have been producing guidance on how this will work in practice. There have also been further court judgments on how to deal with things that have happened in the past.

The Trustee and Company have worked together to understand the impact of these developments on the Scheme, but there are still areas that need to be made clear. It’s a complex matter and likely that it will take time before we can update members who may be impacted.

You can find the latest information here