80% of employers could face additional pension costs following the GMP equalisation ruling

Trustees Agenda posted on 23 November, 2018

XPS Pension Group have claimed that eight out of ten employers with DB pension schemes could face additional costs due to the recent High Court ruling on GMP equalisation. The court has ruled that inequalities between men and women must be removed which could mean higher benefits for some members which would result in higher costs for employers. XPS has added that employers should act promptly, as the cost of equalising GMP benefits must be outlined in companies' year end accounts.