• We’ve reviewed GMPs for over 45,000 members and dependants receiving a UKRF pension

  If you were affected, we’ve been in touch and you'll have received a pension increase and/or a one-off additional payment. If you haven’t heard from us and are receiving a pension paid to you directly from the UKRF, it means you’re already being paid at the right level.

• We continue to monitor equalised pensions

  Pensions in payment change over time. We check them every time there’s a change in a member’s pension and make adjustments if needed to make sure that equalised pensions stay equal.

• Most new pensions are equalised

  If you start taking your pension, this will automatically be checked to make sure it’s paid on an equal basis. For exceptions, see ‘Next steps’ below.

• Quotes show equalised benefits

  If you haven’t yet taken your UKRF retirement savings, any transfer or retirement quotes you receive or run will include adjustments to ensure benefits are paid on an equal basis. The easiest way to get a quote is to log in to your online pension account: Benefits tab> Run a quote.

During 2026, we’ll focus on two more stages.

• Members who have died, transferred out or who took all their UKRF benefits as a cash lump sum at retirement

  We’ve started to review benefits for members who:

  • – Have transferred out of the UKRF.
  • – Were receiving a UKRF pension and died before their benefits were adjusted for any unequal GMP.
  • – Took all their UKRF benefits as a cash lump sum at retirement.

  Any past tax-free cash lump sums taken at retirement will not change because of GMP equalisation and aren’t included in this review.

• Members with defined contribution benefits that include a guaranteed element (GMP underpin)

  Some members in the Barclays Capital Scheme and Capel Cure Scheme sections have a GMP underpin. This is the minimum amount of pension the UKRF must provide using the defined contribution savings built up before April 1997. We’re reviewing benefits for these members and are looking at the best way to equalise them.

There are up to 25,000 members’ benefits that we may need to check for these next two stages. We’ll review these in groups.

As in previous stages, we may find that some members have already received the right level of benefit. We won’t contact you if this is the case (as you won’t be due an additional payment).

We'll start writing to the first groups of members who are due an additional payment from early to mid-2026.

We’ll then write to subsequent groups of affected members; it may take up to a year or more to contact everyone.

If you’d like to know more about the GMP equalisation process, please click here.