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

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Pensioner Form 3(b) – GMP only caseFor pensioners receiving pre 6/4/1997 compensation equivalent to their GMP only.Proforma 3(a) should continue to be used if member is aged less than or equal to age 60 atthe Relevant TimeMember Information – (information that is provided on standard data interface layout)NameNI NumberScheme NameGenderDate of Birth (DOB)Date of leaving (DOL) (= DOR, if retired from active status)Date of retirement (DOR)Assessment Date (AD)Relevant Time (RT) = AD – 1 dayNPAPre97Comp RT = Sum of pre 6/4/1997 elements of “annualcompensation at Relevant Time” 1GMP Information (17/5/1990 – 5/4/1997)MGMP 65 = Male GMP (17/5/1990-5/4/1997) revalued to age 65 2 £ paFGMP 60 = Female GMP (17/5/1990-5/4/1997) revalued to age 60 2 £ paScheme Information – (factors calculated using information on standard scheme questionnaire)Scheme Normal Pension Age (NPA)(i) Pension increases in payment on Pre 97 pensionGI DOR:RT = Increases on post 88 GMP from DOR to RT 3GI 60:RT = Increases on post 88 GMP from age 60 to RT 3GI 65:RT = Increases on post 88 GMP from age 65 to RT 3(ii) Late GMP increases in defermentMLR 65:DOR = increases on male GMP, Age 65-DOR, if applicableFLR 60:DOR = increases on female GMP, Age 60-DOR, if applicableAge at DOR = DOR – DOB (years and months)Age at RT = RT – DOB (complete years)1 Expected that such cases will have a single NPA recorded.2 MGMP 65 = 0 if the member is aged less than 65 at the RT.3 See examples for details of how to calculate the relevant pension increase factors.47
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” > 65Increase 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” 65Increase in compensation at RT= [FGMP 60 x FLR 60:DOR x GI DOR:RT] - [MGMP 65 x GI 65:RT]= [ x x ] - [ x ]= £ pa (1)(c) If “Age at DOR” 60Increase in compensation at RT= [FGMP 60 x GI 60:RT] - [MGMP 65 x GI 65:RT]= [ x ] - [ x ]= £ pa (1)48
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 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 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 92 and 93: Factors used in the form 2(a) for E
Page 96 and 97: 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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Pre 97 PPF compensation at Relevant
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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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Factors used in the Form 3(a) for E
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Pensioner Example 6. Male pensioner
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Modified Method (2): Opposite sex c
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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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