In this section you can find out more about your Trustee Board and what they do. You can also find out more about the main issues for the Scheme at the moment.

GMP Equalisation

The High Court decided in 2018 that we need to change how Guaranteed Minimum Pensions (GMPs) are treated – known as ‘GMP Equalisation’.

Since then, we have worked with our administrators to update processes and calculations. All pension calculations for this scheme now take into account GMP Equalisation. We have also undertaken a review to check if there are any historical increases that need to be applied to pensions that are already in payment and, where possible for those that previously transferred out of the scheme. This exercise has now concluded and where needed, adjustments to pensions have been made.

Further information can be found on the GMP page.