Changes regarding Guaranteed Minimum Pension

In September 2024 we wrote to members affected by a High Court ruling and a change to pensions law. The change meant we had to check a part of members’ pension known as Guaranteed Minimum Pension (GMP). We’re doing this to make sure that men and women are being treated equally.

We consulted with these members on our proposal to convert GMP to ‘normal’ pension in the Scheme.

Following the consultation and after taking into account members’ feedback, we confirmed we will proceed with the proposals.

If you do not have GMP you are not affected by these changes, so we did not write to you.