GMP reconciliation was cited by more than half of our respondents (53.6%), as a major challenge for the upcoming year. We have all seen the deadlines coming – April 2016 for cessation of contracting-out and December 2018 as the cut-off for GMP reconciliation.
Yet many of us have to get past the initial analysis stage before even thinking how to tackle the reconciliation and benefit rectification is still just a dark looming cloud for most. Our GMP research report takes a look at:
71% of pension managers see the GMP reconciliation as a key administration challenge for 2016.
85% of large schemes (above £500 million) see the GMP reconciliation as a key administration challenge for 2016.