GMP reconciliation update for retired members
On page 10 of the Autumn edition of InTouch we told our retired members that an exercise is currently taking place to reconcile the Guaranteed Minimum Pension (GMP) information we hold for them.
As part of this exercise, we must check the GMP information we hold matches HMRC records. This is to make sure contracted-out service is correct and that we’re paying retired members the right pension amount.
We’d hoped to tell affected retired members about adjustments to their pension payments by the end of January this year, but unfortunately we haven’t been able to contact affected members yet. This is because we’re waiting for more information from HMRC. We’re sorry for this delay, but we need this information to make final checks before adjusting the pension benefits of those affected.
We’ll be in touch with retired members as soon as we know more. If you have any questions, please get in touch with the team.
Contact information can be found at the bottom of this web page.