GMPs must be equalised and arrears paid, High Court rules

135,000 scheme members affected

James Phillips
clock • 5 min read

Thousands of defined benefit (DB) schemes will be forced to amend their scheme rules and equalise guaranteed minimum pensions (GMPs) between men and women, the High Court has ruled.

In a landmark decision today (26 October), the court ruled pensions provided to members who had contracted-out of their scheme must be recalculated to ensure payments reflect the equalisation of state pension ages in the 1990s. However, the court did not set a firm route for the equalisation, noting that a number of methods were available for schemes at large. For the Lloyds scheme in particular, due to the scheme's rules, the bank could require the trustees to consider annual increases by reference to both what members would have received if they were of the opposite sex and the accu...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Pensions

Government confirms amendment to Pension Schemes Bill mandation clause

Government confirms amendment to Pension Schemes Bill mandation clause

Government will not require DC schemes to invest more than 10% of total assets

Holly Roach
clock 13 April 2026 • 3 min read
Case study: The hidden risk of a single member SSAS without a professional trustee

Case study: The hidden risk of a single member SSAS without a professional trustee

The problem, the solution, lessons learned

Caitlin Southall
clock 30 March 2026 • 4 min read
Salary sacrifice protections overturned by House of Commons

Salary sacrifice protections overturned by House of Commons

Commons overturns Lords amendment to increase cap to £5,000 from initial £2,000 proposal

Holly Roach
clock 24 March 2026 • 1 min read