Updated: Landmark GMP ruling 'significant challenge' for schemes

Holly Roach
clock • 7 min read

Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.

It also stated that trustees that did not calculate a GMP when making the transfer may have "committed a breach of duty" if they made an "inadequate" payment. The judgment in the second instalme...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Admin / Technology

Welcome to the Administration Age

Welcome to the Administration Age

How admin is adapting as members’ needs change, tech advances and expectations rise

Malcolm Reynolds
clock 05 November 2024 • 4 min read
SPP: What pensions dashboards can learn from Taylor Swift and Oasis

SPP: What pensions dashboards can learn from Taylor Swift and Oasis

Paul McGlone says staggering the launch date of dashboards could help manage demand

Paul McGlone
clock 29 October 2024 • 3 min read
AI and pensions: What are the risks and opportunities?

AI and pensions: What are the risks and opportunities?

Professional Pensions asks the industry whether trustees should be considering AI implementation

Jasmine Urquhart
clock 24 October 2024 • 6 min read
Trustpilot