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Barnett Waddingham
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Briefings: Archive

Making sense of GMP reconciliation

There's an abundance of communication surrounding GMP reconciliation, however, much of this includes acronyms and terminology unique to the subject matter. We’ve put together a glossary of terms, covering industry terms to help bring some clarity to this complicated process.

GMP reconciliation

When contracting-out ends in April 2016, HMRC will no longer track contracted-out rights and will issue closure schedules to schemes so they can compare these against GMP amounts held on scheme records. This is known as a GMP reconciliation.

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