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

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Generalised formula for male deferred pensionersAdjustment to Pre 97 NPA 60 tranche(a) [ FGMP DOL x (FGMP_Revs DOL:RT - XS_Revs DOL:RT )- 60 MGMP DOL x (MGMP_Revs DOL:RT - XS_Revs DOL:RT ) ]= [ x ( - )– x ( - ) ]= £ pa(b) ( FGMP DOL x FGMP_Revs DOL:RT ) –60DP RT= ( x ) –= £ paChoose the maximum of (a) and (b)= £ paAdjustment to Pre 97 NPA 65 tranche (negative)Complete (a) or (b) below, in line with the one which was used above:(a) - [ ( 65 MGMP DOL – Pre90_ 65 MGMP DOL )x (MGMP_Revs DOL:RT - XS_Revs DOL:RT ) ]= - [ ( - )x ( - ) ]= - £ pa(b) - [( 65 MGMP DOL - Pre90_ 65 MGMP DOL ) x (MGMP_Revs DOL:RT -XS_Revs DOL:RT )+ (FGMP DOL - 60 DP DOL ) x XS_Revs DOL:RT ]= - [ ( - ) x ( - )+ ( - ) x ]= - £ pa41
Form 2(b) - Female Deferred Pensioners at the Relevant TimeMember Information – (information provided on standard data interface layout)NameNI NumberSchemeGenderDate of Birth (DOB)Date joined scheme (DOJ)Date of leaving (DOL)Assessment Date (AD)Relevant Time (RT)60DP RT = Sum of pre 6/4/1997 elements of “annual compensationat Relevant Time” with NPA 60 (equals zero if no NPA 60Scheme pension)GMP InformationFGMP DOL = All female GMP at DOL65FGMP DOL = All female GMP at DOL when scheme NPA=65*FemaleScheme Information if Age at RT NPA - (from standard scheme info form)Normal Pension Age (NPA) to be completed if there is a trancheof Scheme benefit with NPA other than 60XS_Revs DOL:RT = Revaluation on Excess Pension (DOL to RT)FGMP_Revs DOL:RT = Revaluation on female GMP (DOL to RT)Age at RT = AD – DOB (complete years)* notation should be amended, if necessary to tie in with NPA of scheme other than 6042
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 38 and 39: C.4 PPF Standard FormsThese forms c
Page 40 and 41: Form 1 - Active members at the Rele
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 76 and 77: Generalised formula for male deferr
Page 80 and 81: The revised NPA 65 tranche = total
Page 82 and 83: Generalised formula for male deferr
Page 86 and 87: Adjustment to Pension revalued to t
Page 88 and 89: Generalised formula for female defe
Page 92 and 93:
Factors used in the form 2(a) for E
Page 94 and 95:
Generalised formula for male deferr
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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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Generalised formula for male deferr
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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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PLUS applicable to pensioners who h
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Page 120 and 121:
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Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
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Pre 97 PPF compensation at Relevant
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Page 140 and 141:
Page 142 and 143:
Age at DOR = DOR - DOB (years and m
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Calculation of Accumulated Back-pay
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Pre 97 Pension at Date of LeavingPr
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2.8% and 3% are UK Guaranteed Minim
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Factors used in the Form 3(a) for E
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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
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Modified Method (2): Opposite sex c
Page 164 and 165:
Factors used in the Form 3(b) for E
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May use instead of standard calcula
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Back-payments Form 4(b) - GMP only
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Uplift at Relevant Time (before app
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Calculation of Accumulated Back-pay
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D.1 Factors for calculating opposit
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D.2 Questionnaire to gather scheme
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Early retirement information15. Did
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Late retirement from either active
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NPAFGMP DOLFemale Deferred Pensione
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e.g. 65 MGMP DOL = male GMP at date
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65 to RTEnter 1 if pension does not
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