Life and financial services newsflash
GMP Equalisation: the High Court rules
12 Nov 2018 - Estimated reading time: 5 minutes
A High Court judge has ruled that the trustees of UK defined benefit pension schemes must compensate members for differences attributable to guaranteed minimum pensions (GMPs)1. The ruling offers clarity for the pensions industry to move forward; it is important that insurers understand how it impacts them and ready themselves.
In this newsflash we look at:
- the ruling;
- what it means for insured annuities;
- the impact it has on an insurer, and;
- next steps.