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Introduction The latest addition to PASA’s suite of GMP equalisation guidance was published today (“the Guidance”). Aimed at finding “a pragmatic approach to equalising historical transfers”, the Guidance builds on the High...
Back in 2018, Mr Justice Morgan held in Lloyds No.1 that schemes are under a duty to equalise for the effect of GMPs. More recently, with Mr Justice Morgan once again at the helm, the High Court concluded in Lloyds No.3 that, in certain...
Introduction The latest addition to PASA’s suite of GMP equalisation guidance was published on 9 July 2021, the eagerly awaited GMP conversion guidance (“the Guidance”). The Guidance “provides examples of how GMP conversion is...
Introduction On 18 June 2021, the High Court handed down its judgment in the Axminster Carpets case. With Mr Justice Morgan once again at the helm, the case helps clarify the arrears and limitations aspects of Lloyds No.1. Click here for a...
Equalising benefits, particularly for the effects of unequal Guaranteed Minimum Pensions (“GMP equalisation”) has, for some time, been a pre-condition for insurers converting a buy-in policy in the name of the trustees to individual...
Introduction The latest addition to PASA’s suite of GMP equalisation guidance notes was published yesterday, the highly anticipated tax guidance (“the Guidance”). Click here for a PDF of this Alert. In this Alert Key points...
When it wasn’t equalised – doh! OK, yes it was still a transfer, but the latest ruling by Mr Justice Morgan in the Lloyds Bank GMP equalisation saga is bound to cause yet more headaches for schemes already trying to grapple with the...
