Updates
Consultation outcome
As the Trustee of the Plan, along with EY and their advisers, we have carefully considered members’ feedback. With EY, we have decided to proceed with the GMP conversion exercise.
We’d like to thank those members who responded to the consultation. The rest of this website has information about why we are doing this, how you might be affected, and when the changes will happen.
What happens next
We have to check that men and women are being treated equally in the Plan. To do this, we will work out how much GMP you would have built up between 17 May 1990 and 5 April 1997 if you were the opposite sex and will compare it to the GMP that you have actually built up. Once we have carried out this exercise, we will convert the higher of the two amounts into non-GMP, in line with the rest of your pension.
We’ll send you a personal statement
We’ll send you a personal statement once we have finished our calculations and worked out how we need to adjust benefits. This will show you a new breakdown of your pension. You should receive this statement by summer 2026.