We’re checking your pension

Watch this 2-minute video about why pension schemes like ours are doing these checks. This video was created by the UK pensions industry, so it gives general information about these checks rather than specifics for our scheme.

Some people have Guaranteed Minimum Pension

If any of your ScottishPower pension was built up between 1978 and 1997, then you will have Guaranteed Minimum Pension (GMP). GMP is usually only a small part of someone’s overall pension. Because of a legal judgment about GMP, we need to check your pension and increase it if necessary.

The rules on Guaranteed Minimum Pension have changed

In the past, women got their State Pension earlier than men. Workplace pension schemes would often reflect this by setting:

• women’s retirement dates at around 60

• men’s retirement dates at around 65

From 17 May 1990, pension schemes legally had to calculate workplace pensions the same way for men and women. However, this didn’t apply to a part of some people’s workplace pension: Guaranteed Minimum Pension (GMP).

In 2018 there was a legal judgment that decided GMP should have been included in the 1990 changes. 

As a result:

• all pension schemes like ours must check their GMP records

• if people have not been treated equally, their pensions must be adjusted

Only some members are affected

Members could build up GMP from 6 April 1978 to 5 April 1997. But the legal judgment only applies to GMP built up after 17 May 1990.

Some members could get a small increase to their pension

We need to work out if you would have built up more GMP if you were the opposite sex. 

If you receive a spouse’s pension, we need to work out how much GMP your husband, wife or civil partner would have built up if they were the opposite sex.

Depending on what we find, your pension might:

• be due a small increase

• stay the same