Pensions & benefits

GMP equalisation

Our clients' GMP equalisation projects are tailored to deliver exactly what they and their members need, in an efficient and cost-effective way.

Our multidisciplinary team has developed a clear six-step plan for GMP equalisation and our flexible GMP equaliser tool, to give clients confidence in a robust project focused on delivering value.

What's new in GMP in 2023?

We asked a selection of PLSA members and our clients how they were getting on with their GMP equalisation projects. We found that 75% have started their journey but fewer than 5% have finished it. In our update we share why we think this is the case and how to choose the right method for you.

Read now
Two years on from the Lloyds judgement

Helping you see the wood for the trees

Our webinar provides an update on the latest developments and guidance, provides direction on where GMP equalisation may fit into your overall pension strategy and provides helpful case studies to add colour to what can be a complex and technical topic, bringing the issues to life.

Watch on demand

Clients benefit from our market-leading experience of delivering successful projects to determine the right approach for them, which depends on their membership, benefits, priorities and strategic objectives. Our powerful charts bring our analysis to life, helping clients to understand the uplifts for their members and make the best decisions.

Six steps to achieving GMP equalisation

GMP equalisation projects can be significant. Our six-step plan provides a clear path to completion.

Strategy
Data
Non-pensioners
Pensioner arrears
Future payments
Past members

Tailored advice to help make informed decisions

We have a wide experience of GMP equalisation, including all possible methods of implementation, working with insurance companies to agree an approach that is also acceptable to them, dealing with pensions tax implications and running projects in conjunction with other data cleanse exercises. We will make sure we agree on the best approach, delivering value to our clients and their members.

Integrated teams

Our specialist teams draw on a broad range of experience including from our Actuarial, Pensions administration, Data services, Pensions risk transfer, and Pensions taxation teams which, combined with experienced Project Managers, will deliver a holistic solution.

Bespoke GMP Equaliser tool

Our GMP Equaliser tool is integrated within our administration and actuarial systems. It can perform all the calculations required for GMP equalisation (and GMP rectification) arrears and then seamlessly undertake conversion calculations (if needed), saving our clients time and money.

Focusing effort on what will have the most impact

Data is important but the data needed varies between members. Our approach will help limit the challenges associated with incomplete or incorrect data and ensure your administration team’s valuable resource is prioritised effectively.