GMP 3% uprating order approved in parliament

Parliamentarians support GMP uprating but raise issue of pensioner poverty and AE reform bill

Jasmine Urquhart
clock • 2 min read
Pensions minister Paul Maynard set out the draft GMP uprate rules for 2024/25 in Parliament yesterday
Image:

Pensions minister Paul Maynard set out the draft GMP uprate rules for 2024/25 in Parliament yesterday

The annual uprating order for GMPs has been approved at 3% after a parliamentary session yesterday (31 January).

Setting out the draft GMP increase order for 2024/25 in parliament yesterday, pensions minister Paul Maynard said with inflation having been measured at 6.7%, the GMP increase, set for 6 April, wou...

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 Defined Benefit

Average DB transfer complainant to receive no compensation

Average DB transfer complainant to receive no compensation

Broadstone’s DB Redress Tracker shows typical redress compensation continues to fall

Jasmine Urquhart
clock 09 January 2025 • 1 min read
Tender Watch: SYPA appoints Northern Trust as custodian

Tender Watch: SYPA appoints Northern Trust as custodian

LGPS pool appoints Northern Trust as custodian for South Yorkshire Pension Fund

Professional Pensions
clock 09 January 2025 • 1 min read
PPF publishes first PPF 7800 Index following methodology revamp

PPF publishes first PPF 7800 Index following methodology revamp

Substantial downward revision in aggregate funding position but DB outlook ‘encouraging’

Jonathan Stapleton
clock 10 December 2024 • 4 min read
Trustpilot