Guaranteed Minimum Pension (GMP)

If you were a member of the Fund before 6 April 1997, for your service that built up between 6 April 1978 and 5 April 1997, your pension from the Fund includes a Guaranteed Minimum Pension (GMP), which is broadly equivalent to the benefits you have given up in the State additional pension (SERPS or S2P). 

When your pension is in payment, your GMP in relation to service between 6 April 1988 and 5 April 1997 is guaranteed to increase in line with the rise in the Consumer Prices Index (CPI) up to 3% a year from GMP Age (there is no guaranteed GMP payable from the Fund in relation to service before 6 April 1988).

Find out more about the S2P at www.gov.uk/state-pension