Bit baffled by Guaranteed Minimum Pension

woolly_wombat

xylophone wrote: »

GMP revaluation is not the same as late retirement increase on GMP.


http://www.legislation.gov.uk/ukpga/1993/48/section/15/enacted

That's the revaluation rate that I was aware would be applied to, for example, late payment of a section 32 policy.

You are female? Your GMP age is 60 so as far as I can see the GMP revaluation at 8.5% would not continue beyond GMP age - only the GMP late retirement increase could apply?

Was Scheme Pension Age 60? Would your Scheme pay late retirement increases on excess scheme pension if you deferred beyond NPA?


I am female and the literature I have from my former employer makes no mention of late retirement increases on excess scheme pension or GMP.

https://www.pensionprotectionfund.org.uk/TechnicalGuidance/Pages/Guaranteed_Minimum_Pension.aspx

https://www.pensionprotectionfund.org.uk/TechnicalGuidance/Documents/Part_D_Scheme_questionnaire_and_glossary.pdf

All my service is pre 17 May 1990, so I assume PPF would not give me the same as a male if I were to defer to 65.

Thank you for responding.