GMP Equalisation

 

If you have benefits that were built up before 5 April 1997, they might include a GMP. The amount of a member’s GMP, and how it is to be increased, is set out in legislation. Following a recent High Court ruling, most UK schemes, like ours, must recalculate benefits to address the unequal effects of GMPs built up between 17 May 1990 and 5 April 1997.

To find out more about what this means, and what the Scheme will be doing, you can watch the short video below, read the updated communications that have been sent to you and take a look at our FAQs documents:

 
Former members

GMP Equalisation (GMPE) project for Former Members of the Scheme

During 2026, as part of our GMP Equalisation (GMPE) project, the Trustee is now focusing on and reviewing benefits for members who:

  • have transferred out of the Scheme.
  • were receiving a Scheme pension and died before their benefits were adjusted for any unequal GMP.

There are many former members’ benefits that we may need to check for this next stage in the GMPE project. Please note that it will be necessary to review these former members in groups.

As in previous stages of the GMPE project, we may find that some members have already received the right level of benefit. We won’t contact you if this is the case (as you won’t be due an additional payment). We'll start writing to the first groups of members who are due an additional payment from mid-2026. We’ll then write to subsequent groups of affected members; it may take up to a year or more to contact everyone.

It is important to note that the Trustee has appointed WTW to contact former members who are due a top-up and arrange settle of these top up payments. Their email address is wtw-ogb-nlsettlementteam@wtwco.com and their phone number is 01737 230459. If WTW (on behalf of the Trustee) contact you because you’re owed an extra payment, we will ask you to verify your identity. You may also be asked to log in to our settlements portal website to complete this process. This is not a scam.

If you require any further reassurance that this request is genuine, please contact the AXA Pensions Team at pensions.uk@axa.co.uk

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