GMP equalisation

What happens next

This video only applies to you if you’re:

• A pensioner; and
• You built up a pension in the UKRF between 1990 and 1997.

It explains what we’re currently doing to review your pension for unequal GMP.

There are thousands of pensions to review and it’s a big undertaking. We’ll contact you in the coming year if your pension needs to increase or if there is an additional payment. No-one’s pension will go down as a result.

We’re looking at the pension you built up from 1990 to 1997 (from when schemes had to start providing equal benefits, to when GMPs stopped building up). We’ll then measure this against an ‘alternative’ pension for the same period, worked out as if you were a member of the opposite sex (with the same age, salary and service).

If the alternative pension is higher, we’ll increase your pension to match it. If not, your pension will remain the same. We will also check to see if you were underpaid pension in the past. If so, you’ll receive a payment to make up for it.

If we write to you, we’ll tell you:

• If your pension will increase
• And if you are due any additional payments.

You don’t need to do anything to receive these.

No-one’s pension will go down as a result.

In future years, we’ll review your pension whenever it changes to ensure it is still being paid equally.

It is possible that receiving these additional payments may affect some members’ income tax positions. We’ll let you know more about tax issues in due course – in the meantime, there’s no need to worry.

We’re contacting members in stages. But the whole review is likely to take around a year.

If you have any questions, look in the dedicated section in this website on GMP equalisation.

Thank you for watching.