Guaranteed Minimum Pension checker
19 July 2016
The Guaranteed Minimum Pension (GMP) checker has now been added to HMRC’s service availability and issues web page.
The new State Pension has replaced the existing basic and Additional State Pension and ended contracting-out for defined benefit pension schemes.
HMRC won’t track contracted-out rights or issue statements to pension schemes.
If you provided a defined benefit contracted-out scheme you’ll need to:
- comply with the legislation
- make sure that members’ entitlements resulting from contracted-out employment are protected
- provide a GMP to your members for contracted-out service between 6 April 1978 and 5 April 1997 (a GMP is payable at age 60 for a women and 65 for a man).
You can use the GMP checker to get a calculation for your members.
HMRC will continue to offer support to deal with any queries up until December 2018 under the scheme reconciliation service.
Guidance on how to create a Comma Separated Variables (CSV) file to request multiple GMP calculations for pension scheme members has been made available on GOV.UK.