ARTICLE · 07 FEBRUARY 2024

Draft GMP Increase Order Published

Norton Rose Fulbright Hong Kong

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The draft Guaranteed Minimum Pensions Increase Order 2024 has been laid before Parliament, specifying 3 per cent as the amount by which GMPs attributable to earnings factors for the tax years...

United KingdomEmployment and HR

Lesley Browning

Shane O'Reilly

The draft Guaranteed Minimum Pensions Increase Order 2024 has been laid before Parliament, specifying 3 per cent as the amount by which GMPs attributable to earnings factors for the tax years 1988-89 to 1996-97 are to be increased from April 6, 2024. The percentage specified in the Order is the lower of the actual percentage increase in price inflation in the period under review and 3 per cent.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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