Reduce Pensions at SPA

Check this box if the pensions defined on the Pensions Tab will be reduced at SPA (or earlier death) when the GMP comes into payment. If this option is selected the Use Approximate GMP Ratio check box becomes available. This can be used to approximate the GMP offset from each of the pensions if this data is unavailable.

If the GMP data underlying each of the pensions in available then the user will be required to enter this in the Pre/Post-1988 Included at Retirement and Pre/Post Included at Valuation Date.

Leave the box unchecked if there are no GMPs or if the GMPs are to be paid in addition to the pensions specified on the Pensions Tab.