Tag Archives: Lloyds GMP case

Down to the Wire!

On 28 April 2022, at 4:35 pm we issued legal advice to our client regarding the GMP conversion exercise for two schemes, along with final versions of the deed of amendment to bring into effect GMP conversion; the Conversion Date was set for 1 May 2022.  At 4:43 pm, we get an e-mail from our … Continue Reading

GMP Equalisation Under the Microscope – Magnifying Tricky Transfer Issues

Since the first Lloyds judgment, trustees and sponsoring employers have, understandably, been focussing on some of the more straightforward elements of GMP equalisation (if there is such a thing). However, following Lloyds 3, some tricky issues have reared their head; employers and trustees are having to take a closer look at previous transfers and in … Continue Reading

GMP Equalisation Under the Microscope – Proactivity Under the Lens

GMP Equalisation and Underpaid Cash Equivalent Transfer Values – Will Trustees Have to Trace and Compensate Members Proactively, or Can Trustees Wait for Claims? Shortly after the High Court decision commonly referred to as “Lloyds 3”, which considered the issue of guaranteed minimum pension (GMP) equalisation and the extent to which past transfers out should be … Continue Reading

GMP Equalisation Under the Microscope – Zooming in on Outstanding Top-ups

Should receiving scheme trustees chase CETV top-ups? Background It is currently generally accepted that trustees of defined benefit (DB) pension schemes are obliged to equalise benefits between male and female members to correct inequalities in guaranteed minimum pensions (GMPs), and that this extends to transferred-in benefits. Following the most recent Lloyds judgment, we now also … Continue Reading

GMP Equalisation Under the Microscope – Claims for GMP Equalisation Top-ups to Historic Transfers

Will the number of transfer top-up claims be any more predicable than the weather – can we expect a blizzard or a light flurry? Shortly after the recent High Court decision on the issue of guaranteed minimum pension (GMP) equalisation and historic transfers (the latest ruling in legal proceedings relating to a number of pension … Continue Reading
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