Guaranteed Minimum
Pension equalisation (GMPe)
December 2023 update

21 December 2023

Are you affected by GMPe?

As explained in our previous news article, we are now writing to pensioner members who may affected by GMPe.

Letters will be issued from December 2023. It is worth noting that:

  • If you were not employed by Royal Mail Group (or any of its subsidiaries) or were not building up pension benefits between 17 May 1990 and 5 April 1997 you will not be affected by GMPe.
  • If you are not yet receiving your pension benefits from the RMSPS, but have built up pension benefits between 17 May 1990 and 5 April 1997, you will not receive a letter from us at this time - instead we will let you know if you hold GMP benefits via your annual Current Value Statement from 2024 and will provide more detail about GMP when you apply to take your retirement benefits from the Scheme.

The letters will confirm if you are impacted and any further information about GMPe with links to useful webpages.

What happens next?

You will receive a further communication in early 2024. This ‘impact statement’ will detail the changes that will be made to your benefits and if you have been identified as being disadvantaged (for example you have received lower benefits than you were entitled to) and details of any one-off lump sum arrears payments.

Stay informed

Since our last news article, we have updated our frequently asked questions (FAQs) section with new member questions. If you have a GMP question, the answer might be here.

We will also be posting further news articles over the next few months so make sure you come back regularly to keep up to date.