29 April 2009
Mercer are making company pension scheme trustees aware that
guaranteed minimum pensions (GMP) conversion is an option as of 6
April 2009 and the trustees should consider whether it is a
suitable option for some or all scheme members.
Possible benefits of GMP conversion include simplified
administration and communication, avoidance of GMP restrictions
including early retirement or giving up pension benefits for a
tax-free cash sum and the enabling of bulk transfers to
contracted-in schemes.
