DWP proposes GMP revaluation rate reduction

The consultation proposes a reduction in the GMP revaluation rate from 3.5% to 3.25%

Holly Roach
clock • 2 min read
The proposed rate does not include an additional premium of 0.5%
Image:

The proposed rate does not include an additional premium of 0.5%

The Department for Work and Pensions (DWP) has launched a consultation proposing to lower the fixed rate revaluation rate for early leavers from 3.5% to 3.25%.

Where a member of a formerly contracted-out pension scheme leaves the scheme before pensionable age - an ‘early leaver' - the scheme must revalue their GMP until it becomes payable at pensionable a...

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 Industry

TPR gender pay gap increases in 2024

TPR gender pay gap increases in 2024

Regulator’s mean and median gender pay gaps rose last year, recognising it has ‘work to do’

Holly Roach
clock 26 March 2025 • 2 min read
Spring Statement 25: 'As you were' following silence on pensions

Spring Statement 25: 'As you were' following silence on pensions

Pensions were notably missing from the chancellor's Spring Statement today

Holly Roach
clock 26 March 2025 • 7 min read
Women in Pensions 2025: One week left to nominate!

Women in Pensions 2025: One week left to nominate!

Professional Pensions celebrates eight years of recognising leading female talent

Professional Pensions
clock 26 March 2025 • 3 min read
Trustpilot