Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, whether he plans to extend Guaranteed Minimum Pension protections to pensions accrued before 1988.
For people reaching State Pension age before 6 April 2016, in some circumstances, the additional State Pension can have the effect of price protection on Guaranteed Minimum Pensions (GMPs) accrued between 6 April 1978 and 5 April 1988.
The additional State Pension, and with it in-effect indexation, was replaced by the new State Pension for people reaching State Pension age from 6 April 2016. The transitional rules of new State Pension can be beneficial to people who have been contracted out and further information about this can be found here [[link]] Guaranteed Minimum Pension (GMP) and the effect of the new State Pension - GOV.UK (www.gov.uk)
There are no plans to change these arrangements.