Guaranteed Minimum Pension(GMP) Update

Following the completion of the first investigation on the Deferred and Pensioner population, we’ve now commenced GMP reconciliation of the Active membership with 34,000 members investigated to date. It’s expected that around 300,000 active members will require investigation in total, with service and GMP value queries continuing to be raised with HMRC.

Queries sent to HMRC for the Deferred/Pensioner population are beginning to be returned and further investigations are underway for those cases where there’s still a discrepancy.  While we’ve not identified a need at this stage to make contact with you to clarify information, we may need to make contact as we progress through the year and receive further responses from HMRC.

We’re continuing to monitor the outcomes of queries and remain committed to keeping any contact with employers to a minimum. Further updates as we progress will be published via the Bulletin and website news.

Last Updated: 28/08/2018 13:37