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New research shows around a third of schemes are providing or shortly planning to provide their members with additional support with their retirement decisions. In the current high inflation environment, feedback from pension schemes is that this support is more important than ever.
HM Revenue and Customs (HMRC) has published a GMP update providing clarification on issues surrounding equalisation.
The Pensions Administration Standards Association (PASA) has launched GMP equalisation guidance covering frequently asked questions (FAQs).
Lack of resource and capacity, costs; access to accurate data; and communication with affected members are just some of the key concerns the industry holds around GMP equalisation.
Buck has completed a GMP equalisation project for the Vaillant Group Pension Scheme – a project it says is the first in the industry to be completed on a ‘standalone’ basis.