Our GMP equalisation service
Our Gemini application is designed to simplify and expediate pension scheme recalculation events such as GMP equalisation.
The power of the Constellation platform means that all applications are interconnected and can utilise functionalityas required, providing a full end-to-end solution for GMP equalisation.
Determining in-scope membership
Calculation readiness assessment
Individual and bulk assumptions for dataremediation
Benefit tranching
Roll back and roll forward calculations
Comparator calculations
Under and over payments remediation
Optional connectivity to existing calculations/ pro-forma
Full audit trail
Progress monitoring with cloud-based dashboards Administration platform extracts for record maintenance
Outcome focused
Our GMP equalisation service is driven by technology ensuring schemes benefit from an efficient, consistent, and fully auditable process, reducing the impact on existing scheme resource and protecting the scheme’s BAU service.
GMP equalisation is complex and has several key dependencies and decision points. The pensions industry has numerous competing legislative priorities such as pensions dashboards and de-risking exercises, coupled with maintaining BAU service this has resulted in the industry wide challenge of limited resources with relevant DB pensions experience. Working in collaboration with Intellica, a be-spoke version of Constellation was developed and implemented, enabling Mercer to deliver GMPe projects in a simple, agile and tracked manner creating capacity to successfully overcome industry challenges.
Senior Partner, Mercer
