Post by Brian Reay Post by Jim GM4DHJ ...
..also just got a letter about GMP from HM Revenue and customs... don't
understand a word of it...can anybody explain?.....weekly GMP £70.53...what
does that mean? .....
Was your pension scheme contracted out of SERPS?
Then it is the minimum pension you should get from it, as Roger hinted.
There is/are some other details (qualifying dates) but, while I can't
recall them, you've been working long enough they won't impact you.
I assume HMRC have supplied the details so you can check you are getting
at least the GMP- otherwise how would people know what it was.
(The details were made public but you need to do a calculation.)
I wonder what happens to anyone whose scheme doesn't pay the GMP.
Perhaps it doesn't happen. I assume £70 is the max GMP, there can't be
many, if any, schemes that don't manage that.