GMP equalisation may look like yet another burden that schemes have to overcome but there are some valuable opportunities such as benefit simplification that can result if handled properly.
At Barnett Waddingham, we have developed a streamlined process to carry out GMP equalisation and potentially conversion and simplification too. An outline of what this will look like is available to download below. We are able to offer a quick turnaround and thorough audit trail by leveraging the transformation work we do for organisations such as insurers and financial advisors. As well as carrying out this exercise for existing clients we can do it on a standalone basis, thereby relieving pressure on existing ‘business as usual’ administration teams, delivering revised benefits and back payment information for immediate implementation.
We would be delighted to discuss this with you and demonstrate how schemes could benefit from our approach.