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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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GMP Insights

GMP Insights

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Here we provide clarity on the issues around Guaranteed Minimum Pensions (GMP) and actions for trustees and corporates.

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