Fixed rate GMP revaluation
Fixed rate GMP revaluation rates are used to increase a member's Guaranteed Minimum Pension (GMP) between the date they leave contracted-out pensionable service and their GMP payment age. The appropriate rate depends on when contracted-out employment ended and is set by legislation. This table shows the fixed GMP revaluation rates applying since 1988, helping advisers, pension scheme administrators and trustees calculate GMP benefits accurately.
| Date of termination of C/O employment |
Fixed Rate of Revaluation |
| 6 April 2022 - 5 April 2027 | 3.25% |
| 6 April 2017 - 5 April 2022 | 3.5% |
| 6 April 2012 - 5 April 2017 | 4.75% |
| 6 April 2007 - 5 April 2012 | 4.0% |
| 6 April 2002 - 5 April 2007 | 4.5% |
| 6 April 1997 - 5 April 2002 | 6.25% |
| 6 April 1993 - 5 April 1997 | 7.0% |
| 6 April 1988 - 5 April 1993 | 7.5% |
| Before 6 April 1988 | 8.5% |
Disclaimer
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.