Statement on Equalisation for GMPs AND the application of a ...

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May use instead of standard calculation if indication is receiving GMP onlyGMP pensioners – use this section if “Age at the RT” 65 AND(a) If “Age at DOR” > 65 NOIncrease in compensation at RT= [ (FGMP 60 x FLR 60:DOR) – (MGMP 65 x MLR 65:DOR) ] x GI DOR:RT= [ ( x ) - ( x ) ] x= £ pa (1)(b) If 60 < “Age at DOR” 65 YESIncrease in compensation at RT= [FGMP 60 x FLR 60:DOR x GI DOR:RT] - [MGMP 65 x GI 65:RT]= [1,072.14 x 1.2739 x 1.1391] - [ 1,214.54 x 1.0895 ]= £ 232.54 pa (1)(c) If “Age at DOR” 60 NOIncrease in compensation at RT= [FGMP 60 x GI 60:RT] - [MGMP 65 x GI 65:RT]= [ x ] - [ x ]= £ pa (1)165
GMP pensioners – use this section if 60 < “Age at RT” < 65 AND(a) If “Age at DOR” 60 NOIncrease in compensation at RT= [FGMP 60 x FLR 60:DOR x GI DOR:RT] - [ NPA Pre97Comp RT ]= [ x x ] - [ ]= £ pa (1)(b) If “Age at DOR” < 60 NOIncrease in compensation at RT= [FGMP 60 x GI 60:RT] - [ NPA Pre97Comp RT ]= [ x ] - [ ]= £ pa (1)Increase in Pre 97 compensation at the Relevant TimeMales increase = Maximum ( 232.54 ; 0.00 )= £ 232.54 paFemales increase = Maximum ( -= £ pa(1); 0.00 )166
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If you have any questions regarding
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A.4 Section 143 valuation requireme
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Combining information from several
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A.6 Schemes not included in the pil
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B.1 BackgroundB.1.1 Content of Part
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B.3 Statutory requirements for cont
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B.5 Interaction of the statutory re
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greater, no further adjustment is r
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For actives, the application of the
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B.7.4 Typically male deferred pensi
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B.8.3 Back-paymentsWhere pensioner
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B.10 Back-paymentsB.10.1 Back payme
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(c) New Pensioners between the RT a
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C.1 Data requirementsFor members of
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C.3 AssumptionsThis section contain
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females joining the scheme after ag
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C.4 PPF Standard FormsThese forms c
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Form 1 - Active members at the Rele
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Generalised formula for male deferr
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Generalised formula for female defe
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1 MGMP 65 = 0 if the member is aged
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Pensioner Form 3(b) - GMP only case
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GMP pensioners - use this section i
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Age at DOR = DOR - DOB (years and m
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PLUS applicable to pensioners who h
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Calculation of Accumulated Back-pay
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Calculation of uplift at Relevant T
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Uplift in Pension at Date of Retire
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C.5 Examples of theoretical calcula
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Active Example 1. Male active membe
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Form 1 - Active members at the Rele
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Statutory minimum test for NPA 60 t
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Deferred pensioner examplesThe exam
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Modified Method (2): Opposite sex c
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Adjustment to Pension revalued to t
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The revised NPA 65 tranche = total
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Adjustment to Pension revalued to t
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Generalised formula for female defe
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Factors used in the form 2(a) for E
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eing a late retirement pensioner fo
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Pensioner NPA 60 trancheThe member
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Factors used in the Pensioner Form
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1 MGMP 65 = 0 if the member is aged
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Factors used in the Male Deferred P
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Example 5 - Member with tranches of
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Pre 97 Pension at Date retired from
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Back-paymentsThe member is entitled
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Pensioner Form 3(a) - not GMP only
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Page 120 and 121: Back-paymentsThe member is entitled
Page 122 and 123: Pensioner Form 3(a) - not GMP only
Page 128 and 129: Back-paymentsThe member is entitled
Page 136 and 137: Pre 97 PPF compensation at Relevant
Page 142 and 143: Age at DOR = DOR - DOB (years and m
Page 146 and 147: Calculation of Accumulated Back-pay
Page 148 and 149: Pre 97 Pension at Date of LeavingPr
Page 150 and 151: 2.8% and 3% are UK Guaranteed Minim
Page 152 and 153: Factors used in the Form 3(a) for E
Page 154 and 155: 1 MGMP 65 = 0 if the member is aged
Page 156 and 157: Factors used in the Form 3(a) for E
Page 158 and 159: 1 MGMP 65 = 0 if the member is aged
Page 160 and 161: Pensioner Example 6. Male pensioner
Page 162 and 163: Modified Method (2): Opposite sex c
Page 164 and 165: Factors used in the Form 3(b) for E
Page 168 and 169: Back-payments Form 4(b) - GMP only
Page 170 and 171: Uplift at Relevant Time (before app
Page 172 and 173: Calculation of Accumulated Back-pay
Page 174 and 175: D.1 Factors for calculating opposit
Page 176 and 177: D.2 Questionnaire to gather scheme
Page 178 and 179: Early retirement information15. Did
Page 180 and 181: Late retirement from either active
Page 182 and 183: NPAFGMP DOLFemale Deferred Pensione
Page 184 and 185: e.g. 65 MGMP DOL = male GMP at date
Page 186: 65 to RTEnter 1 if pension does not
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