GMP equalisation processes
We are including all RSA schemes where members built up GMPs between 17 May 1990 and 6 April 1997. This includes RIGPSSALPS.
This is how we will review former members’ transfers out:
1. We will work out the pension you built up between 17 May 1990 and 5 April 1997.
If your pension was higher, there is no need to top-up your past transfer. In this case, you may not hear from us about this because your past transfer was the correct amount.
Be assured that if you are affected, we will contact you. We expect this to be in the first half of 2025.
2. We will work it out again, as if you were a member of the opposite sex.
If your pension was lower, you may receive a one-off top-up payment (which includes interest) to make up for your past transfer being lower than it should have been.
If you receive a top-up payment, you may need to check your tax positioncheck your tax position.
This is how we reviewed pensions in payment:
3. We worked out the amount of pension you built up between 17 May 1990 and 5 April 1997.
If your pension was higher, there was no need to increase your pension. In this case, you may not have heard from us about this because you were already receiving the right level of pension.
We have completed this exercise so if you were affected, we will have contacted you.
4. We worked it out again, as if you were a member of the opposite sex.
If your pension was lower, we may have needed to increase your pension or you may have received a one-off additional payment (which included interest) to make up for receiving lower pension in the past. Or you may have received both.
If your pension changed, you may have needed to check your tax positioncheck your tax position.