As a consequence of the end of contracting out and the introduction of the new single tier state pension there has been much discussion about Guaranteed Minimum Pension (GMP) policy issues. Options are being considered for a long term solution on treating the GMP of affected members of public service pension schemes who will reach State Pension age after 5 December 2018.
HMT launched a consultation yesterday that runs for 3 months until 20 February 2017. The consultation document can be accessed via the attached link:https://www.gov.uk/government/consultations/indexation-and-equalisation-of-gmp-in-public-service-pension-schemes
Responses to the consultation should be sent directly to HM Treasury. Details on how to respond to the consultation are given at para 1.10 of the consultation document.
The devolved position is set out at para 1.7 of the document . Official Pensions in Northern Ireland are currently treated identically to those in Great Britain public service schemes under equivalent legislation. A list of equivalent legislation is attached for ease of reference.