Web• Introduced on 6 April 2009 (under the Pensions Act 2007), “conversion” is a legislative facility which allows GMPs to be converted into ordinary DB scheme benefits, following … The Conversion Guidance addresses another significant step, enabling trustees and their advisors to better navigate their equalisation journey. GMP conversion is a valuable tool which can be used to equalise benefits for GMPs and avoid the additional complexity associated with the year-on-year equalisation methods.
PASA Guidance on GMP conversion - WTW - Willis Towers Watson
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GMP equalisation: Is GMP conversion the solution? - Womble …
WebApr 12, 2024 · GMP – a simple, agile & tracked approach Our approach to GMP Equalisation - Simple, Agile, Tracked Simple Promoting pragmatism and reducing the number of Trustee decisions is fundamental to our approach. We understand the important decisions and we deliver advice and support to our clients that focuses on these key … WebJun 10, 2024 · GMP equalisation by way of conversion involves first calculating (a) the projected benefits of each member and (b) the projected benefits of the member if he/she had been of the opposite sex. The two sets of projected benefits are given an actuarial equivalent value, and the higher of the two is used as the "budget" from which new … WebJul 9, 2024 · I am delighted to have published guidance with PASA on how GMP conversion is being used in practice to equalise for Guaranteed Minimum Pensions … profit or loss statement 2021