GMP Equalisation Working Group launches new guidance on GMP Conversion
Date:
Today the GMP Equalisation Working Group, formed under PASA, has launched a new guidance note which shows how Guaranteed Minimum Pensions (GMP) conversion is being used by trustees to equalise benefits for GMPs.
Anthony Arter, Pensions Ombudsman said:
“The Pensions Ombudsman welcomes the GMP Equalisation Working Group guidance note. The increased amount of information and examples provided on this topic is important for the pensions industry to improve its practices. It will be useful to refer to this guidance during any relevant investigations we carry out.”
Read the full press release and view the guidance note on PASA’s website.
Related news
- TPO resolves more complaints despite the challenges of the past yearDate:The Pensions Ombudsman (TPO) today publishes its Annual Report and Accounts for 2020/21. The Report highlights the introduction of a single application process for all pension complaints, ensuring complaints are resolved at the earliest stage.
- Anthony Arter to continue as Pensions Ombudsman for a further yearDate:Today, the Department for Work and Pensions announced that Anthony Arter’s term as Pensions Ombudsman and Pension Protection Fund Ombudsman has been extended for a further year.