Equalising Pensions

High Court Judgements

In October 2018 and late 2020 the High Court gave its judgments regarding the equalisation of pensions for men and women. The judgment affects Guaranteed Minimum Pension ('GMP') built up in any UK pension scheme which was contracted out of the State Second Pension between 17 May 1990 and 5 April 1997.

The Co-op schemes which are affected are The Co-operative Pension Scheme ('Pace'), the Somerfield Pension Scheme, the United Norwest Co-operatives Employees’ Pension Fund and the Plymouth and South West Co-operative Society Limited Employees’ Superannuation Fund. 

The Trustee of Pace and the Trustees of the other affected Co-op schemes are in the process of working out how the decision affects their members and former members (if applicable) with a GMP and will write to them with details in due course. This is a complicated process and it is likely to take some time. Typically the GMP is usually only a small part of the pension, and so it is likely that there will be little or no change to your pension.