One year ago, the UK’s High Court issued a ruling that Guaranteed Minimum Pension (GMP) plans must begin an equalization project to correct a disparity in pensions between male and female workers. Since then, trustees and sponsors of pension programs have struggled to find the best way to proceed.
Now, a UK industry group has issued recommendations for how GMP plans should take action. This guidance, developed by the Pensions Administration Standards Association (PASA), considers methods of compensation and how to disburse nearly £32 billion in pension funds. Learn more about their advice in the article from The Actuary.