“PASA’s work on GMP equalisation has made an outstanding contribution to the pensions industry. Whether we like it or not the GMP problem has to be put right once and for all. There’s never been an issue that combined such high complexity with low monetary value. We need joined-up thinking and industry-wide solutions. Organising all these many, many volunteers into working groups to publish practical guidance is a real achievement. Pension lawyers don’t want to be inventing lots of slightly different shaped wheels. The conversion guidance is particularly useful because conversion offers a solution for many schemes and PASA’s work has lit up the dark corners that were scaring people away. Going beyond GMPs, the dashboard is on the horizon and pension schemes are going to have to raise their game. It’s no longer sustainable to treat admin as the poor relation. More power to your elbow PASA!”
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