Schrems II And GMP Equalisation

Highlighting recent cases and guidance.

Many trustee boards have taken steps to mitigate for the current coronavirus pandemic and most schemes are now settling into the 'new normal'. Despite the current pandemic, pensions issues haven't gone away - new legislation, guidance and decisions continue to be published by the government and the courts.

GMP equalisation remains at the forefront of industry discussion and there have been a number of developments this year. Our latest update on HMRC's approach to GMP equalisation is here. There is currently no sign of the highly anticipated judgment in the third Lloyds case (which is expected to give further guidance on transfers and other matters) but we will provide a further update when that is issued.