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

Active Example 1. Male active member at the Relevant TimeTimelineAge 586065RelevantTime(RT)SchemeNPA 1SchemeNPA 2Membership DetailsDate of Birth = 5 December 1946Date joined scheme = 1 January 1994Assessment Date = 2 July 2005Relevant Time (RT) = 1 July 2005 (age 58 years)Pre 97 Pension at the Relevant TimePre 97 Pension at the Relevant Time = £1,262.19 pa which has been split into tranchesNPA 60 and NPA 65 tranches (based on service dates) as follows:Service Dates NPA Total Pensionat date of leavingPost 88 GMPmade up of:Excess pension01/01/1994 – 20/12/1994 60 £308.43 pa £98.10 pa £210.33 pa21/12/1994 – 05/04/1997 65 £953.76 pa £303.35 pa £650.41 paTotal n/a £1,262.19 pa £401.45 pa £860.74 paModified Method (2): Opposite sex calculation – applicable to a femalePre 97 Pension at the Relevant TimeThe Pre 97 Deferred Pension at the Relevant Time = £1,262.19 pa is unchanged.However, the split of the different NPA tranches into GMP and excess pension has changedas follows:Service Dates NPA Total Pensionat date of leavingPost 88 GMPmade up of:Excess pension01/01/1994 – 20/12/1994 60 £308.43 pa £115.62 pa £192.81 pa21/12/1994 – 05/04/1997 65 £953.76 pa £357.53 pa £596.23 paTotal n/a £1,262.19 pa £473.15 pa £789.04 paWhere the equivalent Female GMP at date of leaving is:NPA 60 tranche = 98.10 x 1.1786 = £115.62 paNPA 65 tranche = 303.35 x 1.1786 = £357.53 pa(1.1786 is taken from the table in Part D.1 for calculating opposite sex GMP)63