Why pension scheme sponsors should act now to influence the approach to removing GMP inequalities
The Lloyds Bank judgement on 26 October 2018 set out several potential methods for equalising benefits. The court has ruled that all but the default ‘C2’ methodology require the employer’s approval. This means that other methods, which could potentially simplify benefits and reduce costs, are only possible with the sponsor’s consent. In this publication different methods are looked at to address GMP inequalities.
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We help sponsors of pension schemes understand and manage the costs and risks associated with supporting their current and legacy pension schemes as well as other employee benefits.
We help pension scheme trustees and sponsors to determine the ultimate destination for their scheme and help them put together a plan to get there, including how to effectively manage the risks they face along the way.
We help trustees achieve their strategic goals, with solution-led, appropriate advice.