HMRC republishes GMP conversion and equalisation guidance

HMRC has republished guidance on the conversion and equalisation of GMP. The guidance is a reminder of one possible method of equalisation which was first published in 2016.

The proposed method involves a one-off calculation and actuarial comparison of the benefits a man and woman would have. The higher of the two is then converted into an ordinary scheme benefit under sections 24A to 24H of the Pension Schemes Act 1993.

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