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

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Defined Benefit

Tender Watch: PMI appoints data insight partner

Tender Watch: PMI appoints data insight partner

Mortality Monitor webinars will help with member information, modelling, mortality rates and de-risking

Professional Pensions
clock 11 November 2024 • 1 min read
Partner Insight: £ Billion+ transactions - driving innovation across the risk settlement market

Partner Insight: £ Billion+ transactions - driving innovation across the risk settlement market

Mike Edwards, Partner, Aon
clock 06 November 2024 • 5 min read
Mixed industry views on DB run-on, SPP finds

Mixed industry views on DB run-on, SPP finds

SPP and APL survey of pension professionals finds minority think run-on is viable long-term strategy

Jasmine Urquhart
clock 23 October 2024 • 1 min read
Trustpilot