If you’re in tranche 2

The GMP equalisation and conversion project involves reviewing over 1,500 pension records, so we have decided to take a phased approach to the work.

Some members received a letter explaining that we would consult with them later about our proposal to convert GMPs and simplify our pensions. If you are one of our ‘Tranche 2’ members, we will write to you again by August 2023 with details of any change to your pension, including an additional payment (if you are due one) to make up for the historical inequality, and our plans for simplifying Scheme pensions.

There is no action you need to take at the moment. Please look out for further communications from us in due course.