Guaranteed minimum pension ruling

Asghar

sshazza wrote: »

BTW I never received a letter either regarding my goverment pension being changed to 66!

Do you still have the letter to say you were due to receive it at 60.

xylophone

Do you still have the letter to say you were due to receive it at 60.

There may well have been no letter. It was not uncommon for DB leavers to be waved goodbye with a "Contact us to claim your pension at your Scheme Normal Retirement Age".

The OP may find this Q & A produced by BA of interest.

https://www.mybapension.com/aps/scheme/gmp-equal-treatment

sshazza

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sshazza

Asghar wrote: »

Do you still have the letter to say you were due to receive it at 60.

I never received a letter to say I wasn't get it at 60!!

xylophone

I never received a letter to say I wasn't get it at 60!!

Do you have your statement of deferred benefits on leaving showing pre 88 GMP/post 88 GMP/excess?

Do you have the scheme booklet?

What was the scheme normal retirement age?

Have you obtained a state pension forecast?

https://www.gov.uk/check-state-pension

Remember that while your GMP is not in payment, you are entitled to statutory GMP late retirement increases.

If retirement is postponed for seven complete weeks or more beyond the GMP payable age (60 for women and 65 for men), an increase of at least 1/7% for each complete week that retirement is deferred must be applied.

hyubh

nigelbb wrote: »

Ah...I've just realised that this doesn't relate to pensions being paid out but to accrual before 1997 when GMP ended & SPA for women would have been 60 then.

When sex-specific scheme pension ages were ruled discriminatory in the earlier 90s, only excess pensions were equalised because the government tried to claim GMP was a sort of state entitlement, not a contractual matter between scheme and member and therefore out of scope (to 'make sure', covering pensions legislation was changed to explicitly bracket out NPAs for GMPs). The end of contracting out removes the mechanism (i.e., contracted-out deductions) by which that is vaguely plausible.

That's for private sector schemes. Public sector ones never had a GMP equalisation issue in the first place given the tighter relation between scheme and state pensions, however the end of contracting out then created one (hence the present 'temporary solution' of granting full increases on GMPs for public sector scheme members meeting SPA now).

By the by, GMP equalisation is both an accrual and an NPA issue - remember SERPS (which GMP, while the member was active, reflected) was a sort of capped career average pension, and the capping was in relation to your SPA at the time. So, a woman couldn't accrue as many years as a man, but accrued at a faster rate. Also, revaluation prior to GMP age and pension increases after it are radically different, there's a statutory late retirement factor for GMPs that complicates things again, etc.