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ARTICLE · 14 MAY 2019

DWP Publishes GMP Conversion Guidance: What Next For Trustees And Employers?

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Since the High Court ruled in the Lloyds Bank case in October last year that pension benefits need to be equalised between men and women for the effect of guaranteed minimum pensions.

CanadaEmployment and HR

Since the High Court ruled in the Lloyds Bank case in October last year that pension benefits need to be equalised between men and women for the effect of guaranteed minimum pensions (GMPs), most pension scheme trustees have been awaiting guidance from the Department for Work and Pensions (DWP) on how to go about this.

The publication of DWP's guidance on 18 April 2019 is therefore an important development. However, on its own, it does not give pension schemes all the information they need in order to make substantial progress on this issue.

The DWP's guidance contains the following:

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