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Since the first Lloyds judgment, trustees and sponsoring employers have, understandably, been focussing on some of the more straightforward elements of GMP equalisation if there is such a thing.
The GMP Equalisation Working Group has published its supplemental guidance on transfer payments.
The pensions industry is “optimistic” about GMP equalisation with many schemes expecting to be paying pensions on an equalised basis by the end of 2022, according to research by Sackers.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download Find whitepapers
Is guidance guiding? Trustees receive a huge amount of guidance, but is it all useful? Holly Roach reports. The list of guidance available to pension schemes and trustees is vast. It covers issues ranging from GMP equalisation and the pensions dashboard to cyber security and scam prevention and is created to... To continue reading... Don't have an account? Professional Pensions is the UK's leading publication for the occupational pensions industry offering unrivalled coverage of the key issues facing schemes and their sponsors. Professional Pensions offers: REAL-TIME NEWS & ANALYSIS: find out...