MEMBER SERVICES
Brightwell completes
GMP equalisation for BTPS
Bright Insight / Q2 2024 Page 14
Brightwell began work on GMPe for BTPS in 2021.
It assessed over 200,000 Scheme members, both past and present, to
establish which members were due equalisation adjustments. This resulted in
creating a plan to make the necessary adjustments for 60,000 eligible
members.
All work including calculations, system changes and creation of the GMPe data
was carried out in-house by the Brightwell team, in partnership with Procentia
and the Scheme's Actuary WTW.
Communications to historic members who had transferred out of the Scheme
began in December 2022, including a tracing exercise to find those the
Scheme no longer held records for. Then, in August 2023, the Scheme began
contacting existing members with information about their equalisation
adjustments. The amounts due were typically very small. The final tranche of
members were contacted in February 2024.
Read more for our six top tips for GMPe Success.