Share share. Following a landmark legal ruling, occupational pension schemes are required to equalise pensions for men and women for the effects of GMP that were contracted out of the State pension scheme.

What's GMP Equalisation?

The High Court in England ruled on 26 October 2018 that all Guaranteed Minimum Pension (GMP) benefits in UK pension plans must be equalised for males and females. We believe that this means over 80% of UK defined benefit (DB) schemes are impacted. ...

What does GMP mean in relation to pensions?

What is a Guaranteed Minimum Pension ( GMP )? A GMP is a minimum pension that a workplace pension scheme normally provides. It only applies to people who were contracted out of the Additional State Pension from 6 April 1978 to 5 April 1997.