Early Retirement Refused

Trojan81

https://forums.moneysavingexpert.com/discussion/comment/81970290#Comment_81970290

No, I've not received anything from Diageo regarding GMP Equalisation.

xylophone

For real brain scrambling see

https://pensions.slaughterandmay.com/post/102lvqj/frankly-its-not-that-hard-a-quickish-guide-to-anti-franking#:~:text=an%20equalisation%20headache.-,How%20it%20all%20works,factors%20on%20the%20excess;%20plus

I already have……. and indeed the subject of anti franking has been discussed before, example here with links to previous

https://forums.moneysavingexpert.com/discussion/comment/80179608/#Comment_80179608

Encouraging someone to clock up costs for the scheme by asking for information and explanations of hugely complex topics when OP has already said they don't want to retire early is a bit unfair.

You will notice that in a previous post (13 April) I said

You will need to request a fuller explanation from the administrator (although if you do not intend to claim the pension until normal scheme retirement age, you may feel that this would not be worthwhile).

And in my latest post I did not say that the OP should immediately proceed to ask the question, only that he WOULD need to do so if he wants the correct answer…ie (as you often recommend) ask the administrator rather than have other posters guess………..😊



Trojan81

Funnily enough, today I received a letter regarding Consultation on GMP Equalisation via GMP conversion.

xylophone

GMP Equalisation via GMP conversion.

Interesting. See https://www.wtwco.com/en-gb/insights/2025/11/gmp-conversion-simplifying-benefits-investing-in-the-future

Intuitively, there is a strong argument to remove GMPs. GMP conversion means:

• Simplification – the benefits in a scheme are often distorted because of GMP. When compounding this with GMP equalisation it can produce odd looking benefits and in some cases the pension can reduce when implementing dual records. GMP conversion can smooth out these kinks, making the benefits easier to understand, administer and communicate
• Flexibility – by removing GMP checks which might otherwise restrict cash lump sums or early retirement, as well as removing GMP restrictions which might otherwise hinder further reshaping