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

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C.4 PPF Standard FormsThese forms calculate the adjustment that is required to the member’s benefitswhere this has already been calculated before equalisation for GMPs and theapplication of the Statutory Minimum as at the Relevant Time.A description of all the items included in the forms is provided in the Glossary to thisdocument (see part D.3). Generally the prefix (in subscript) denotes the NPA (or theperiod when the benefit accrued) under the Scheme’s rules. The suffix (in subscript)denotes the “as at date” or period, as appropriate.Adjustments will only ever apply to pre 1997 compensation. Typically membersmay get an increase in the Pre 97 NPA 60 tranche of benefit and a reduction in thePre 97 NPA 65 tranche of benefit, see step 4 in section A.5 for further details.To aid understanding of the forms, worked examples of forms (including the derivation ofthe factors used) are provided in Part C.5.Form 1Active male and female members at the Relevant TimeForm 2 (a)Male deferred pensioners at the Relevant TimeForm 2 (b)Female deferred pensioners at the Relevant TimeForm 3 (a)Male and female pensioners at the Relevant Time(have sufficient excess to cover opposite sex GMP)Form 3 (b)Male and female pensioners at the Relevant Time(receiving Pre 97 compensation equal to their GMP only)Form 4 (a)Back-payments for male and female pensioners (have sufficient excess tocover opposite sex GMP) covering the period from the Date of Retirementto the Relevant Time onlyForm 4 (b) Back-payments for male and female pensioners (receiving Pre 97compensation equal to their GMP only) covering the period from the Dateof Retirement to the Relevant Time onlyNo form has been included for back-payments in respect of periods after the RelevantTime as the required calculation is no different to the PPF’s standard calculation, whichscheme administrators will be familiar with.37
The table below indicates which forms should be used depending on the member’s statusat the Relevant Time. This table is intended to be of particular interest where the schemehas a mixture of NPAs and the member may be over the lowest NPA at the Relevant Time.In such cases it may be appropriate to use 2 or more forms to adjust PPF compensation.Status ofmember atRelevantTimeSexAge atRelevantTimeNPAsRelevant FormsActiveMalesandfemalesLess than age all 160 13DeferredpensionerMalesLess thanlowest NPAall2(a)DeferredpensionerMalesGreater thanlowest NPAall3(a) for pensioner element2(a) for deferred pensioner elementDeferredpensionerFemalesLess thanlowest NPAall2(b)DeferredpensionerFemalesGreater thanlowest NPAall3(a) for pensioner element2(b) for deferred pensioner elementPensionerMalesandfemalesn/a n/a Adjustment to PPF compensation3(a) if sufficient excess pension3(b) GMP only caseBack-payments4(a) if sufficient excess pension4(b) GMP only13 Calculations may need to be modified for members who ceased contracting out before leaving activeservice, This could apply to any active member who remained in service after age 60 in respect of theirfemale GMP.38
Page 5 and 6: If you have any questions regarding
Page 8 and 9: A.4 Section 143 valuation requireme
Page 10 and 11: Combining information from several
Page 12 and 13: A.6 Schemes not included in the pil
Page 14 and 15: B.1 BackgroundB.1.1 Content of Part
Page 16 and 17: B.3 Statutory requirements for cont
Page 18 and 19: B.5 Interaction of the statutory re
Page 20 and 21: greater, no further adjustment is r
Page 22 and 23: For actives, the application of the
Page 24 and 25: B.7.4 Typically male deferred pensi
Page 26 and 27: B.8.3 Back-paymentsWhere pensioner
Page 28 and 29: B.10 Back-paymentsB.10.1 Back payme
Page 30 and 31: (c) New Pensioners between the RT a
Page 32 and 33: C.1 Data requirementsFor members of
Page 34 and 35: C.3 AssumptionsThis section contain
Page 36 and 37: females joining the scheme after ag
Page 40 and 41: Form 1 - Active members at the Rele
Page 42 and 43: Generalised formula for male deferr
Page 44 and 45: Generalised formula for female defe
Page 46 and 47: 1 MGMP 65 = 0 if the member is aged
Page 48 and 49: Pensioner Form 3(b) - GMP only case
Page 50 and 51: GMP pensioners - use this section i
Page 52 and 53: Age at DOR = DOR - DOB (years and m
Page 54 and 55: PLUS applicable to pensioners who h
Page 56 and 57: Calculation of Accumulated Back-pay
Page 58 and 59: Calculation of uplift at Relevant T
Page 60 and 61: Uplift in Pension at Date of Retire
Page 62 and 63: C.5 Examples of theoretical calcula
Page 64 and 65: Active Example 1. Male active membe
Page 66 and 67: Form 1 - Active members at the Rele
Page 68 and 69: Statutory minimum test for NPA 60 t
Page 70 and 71: Deferred pensioner examplesThe exam
Page 72 and 73: Modified Method (2): Opposite sex c
Page 74 and 75: Adjustment to Pension revalued to t
Page 80 and 81: The revised NPA 65 tranche = total
Page 86 and 87: Adjustment to Pension revalued to t
Page 88 and 89:
Generalised formula for female defe
Page 90 and 91:
Modified Method (2): Opposite sex c
Page 92 and 93:
Factors used in the form 2(a) for E
Page 94 and 95:
Generalised formula for male deferr
Page 96 and 97:
eing a late retirement pensioner fo
Page 98 and 99:
Pensioner NPA 60 trancheThe member
Page 100 and 101:
Factors used in the Pensioner Form
Page 102 and 103:
1 MGMP 65 = 0 if the member is aged
Page 104 and 105:
Factors used in the Male Deferred P
Page 106 and 107:
Generalised formula for male deferr
Page 108 and 109:
Example 5 - Member with tranches of
Page 110 and 111:
Pre 97 Pension at Date retired from
Page 112 and 113:
Back-paymentsThe member is entitled
Page 114 and 115:
Pensioner Form 3(a) - not GMP only
Page 116 and 117:
PLUS applicable to pensioners who h
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Pre 97 PPF compensation at Relevant
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Age at DOR = DOR - DOB (years and m
Page 144 and 145:
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:
Page 156 and 157:
Factors used in the Form 3(a) for E
Page 158 and 159:
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 166 and 167:
May use instead of standard calcula
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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