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Document Should the Guaranteed Minimum Pension test be carried out each year?

Yes, if a scheme member failed the Guaranteed Minimum Pension (GMP) test and subsequently did not retire the GMP test would need to be recalculated if the member considered retiring the following year.

If the member passes the GMP test and then chooses not to retire the test would again to be recalculated if the member chose to retire in a different year.

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gmp test, section 148 orders, fail gmp, redo gmp

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