Deloitte GMP Equalisation Cost Survey

Defined benefit pension schemes

Guaranteed Minimum Pension (“GMP”) was earned until April 1997 in schemes that were “contracted out” of the SERPS State pension. The law required that GMP was payable from age 60 for women and age 65 for men.

The judgment from the recent Lloyds Bank court case means that schemes and their sponsoring employers now need to equalise GMPs earned after 17 May 1990 between men and women.

The Deloitte GMP Equalisation Cost Survey, considers the cost of equalising GMP and how companies have estimated these costs.

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