While you were an active member of the Plan, you were contracted-out of the Second State Pension. This meant you paid lower National Insurance contributions (NICs) at the time, which affects how much State Pension you will receive. 

To make up for it, the Plan pays a Guaranteed Minimum Pension (GMP) for members with pensionable service before 6 April 1997. 

Your GMP forms part of your Plan pension but has no real significance until you reach GMP age. This is currently 65 for men and 60 for women. (It is important to note that the changes to the State Pension Age do not apply to the GMP.) 

What is changing? 

In 2018, the High Court determined that pensions should be adjusted to take account of inequalities in GMPs built up between 17 May 1990 and 5 April 1997 for men and women. This only applies to members who were building up benefits between those dates and a small uplift is expected to be required in some (but not all) cases. 

The Trustee is working with its legal and actuarial advisers to make the necessary adjustments to Plan benefits but, due to the complexity of the calculations, this will be a lengthy process. We will provide updates in this section of the website. 

If you don’t have pensionable service between 17 May 1990 and 5 April 1997, you will not be affected by this matter.