The free toolkit was developed by Quietroom and a consortium of UK’s largest defined benefit schemes.
A new online pensions toolkit has been launched to explain GMPe.
The toolkit is free to download and has been developed to help pension schemes members better understand Guaranteed Minimum Pension (GMP) equalisation (GMPe).
Simon Grover, director at Quietroom, which developed the toolkit with a consortium of UK’s largest defined benefit schemes, said: “ It was fantastic to be asked to help deliver this project and it’s been great to be working with the partner schemes to develop and test a set of communications that will really help schemes explain GMPe to their members. Whether schemes decide to use the communications as is or decide to tailor them for their own needs, we hope they will be a good starting point for the complex communications challenges that schemes are facing.”
The material features an animation and has been tested with members to ensure it’s simple and easy to understand.
Kirsty Aljewicz, head of member communication at Brightwell, which is part of the consortium that developed the toolkit, said: “Communicating to members about GMPe is something we’re all going to have to do but it’s far from simple.
“As we’re all grappling with this issue, we thought it would be great to work together on this challenge and develop something which not only benefits our own schemes but benefits the whole industry. The hope is that this toolkit will make communicating GMP easy peasy!”
The toolkit can be downloaded at www.gmpeasy.co.uk
