Communications

Since the Lloyds Bank judgement was announced in October 2018 pension schemes have wrestled with how to communicate to members. It’s a hard balance to strike between communicating too little where members aren’t informed and communicating too much where members might get the impression that GMP Equalisation will have a bigger impact on their benefits than is actually the case.

In August 2020, the GMPE Communication subgroup produced Guidance for schemes in the early planning stages of GMP Equalisation where they are considering how they will approach their communications, how they will work actively with their administrators, and what they really need to say to their members.