Guaranteed minimum pension (GMP) rights present a variety of issues for schemes with any history of contracting-out of UK state pension arrangements. This briefing provides an update on the latest developments in a number of areas – to discuss any of these issues further, please get in touch with your usual Allen & Overy adviser.
1. GMP RECONCILIATION DEADLINE: PLAN AHEAD -
In theory, schemes have until December 2018 to complete their GMP reconciliation activity. However, the real timescale is shorter than that: HMRC has emphasised that there will be no facility to raise queries via the Scheme Reconciliation Service (SRS) after October 2018, and some believe this cut-off date could be brought forward due to the number of queries HMRC is receiving.
Please see full publication below for more information.
