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

Modified Method (2): Opposite sex calculation – applicable to a malePre 97 Pension at Date of LeavingThe Pre 97 Deferred Pension at date of leaving = £1,264.84 pa is unchanged. However,the split of the different NPA tranches into GMP and excess pension has changed asfollows:Service Dates NPA Total Pensionat date of leavingPost 88 GMPmade up of:Excess pension21/12/1994 – 05/04/1997 62 £1,264.84 pa £475.75 pa £789.09 paTotal n/a £1,264.84 pa £475.75 pa £789.09 paWhere the equivalent Male GMP at date of leaving is:NPA 62 tranche = 560.69 x 0.8485 = £475.75 pa(0.8485 is taken from the table in Part D.1 for calculating opposite sex GMP)Pre 97 Pension revalued to the Relevant Time (age 58)NPA 60 tranche £0 paNPA 62 tranche8475.75*1.0625 789.09 *1.181 £1,704.61pawhere:18.1% = Occupational Pensions (Revaluation) Order 2004 for 7 year revaluation period8 revaluations are granted to the female GMP at 6/4/1998 - 6/4/2005 inclusiveThis is less than the female Pre 97 pension revalued to the Relevant Time so thismember is better off remaining as a female member.However, a further check is needed to see if any change is needed to the femalePre 97 pension to ensure that the Statutory Minimum is met.83