Welcome to your weekly update from the Allen & Overy Pensions team, bringing you up to speed on the latest legal and regulatory developments in the world of occupational pensions.

Equalising pensions for GMPs? High Court says ‘yes’ -

The High Court has ruled that since pension benefits, including any Guaranteed Minimum Pension (GMP) element, are pay; and since it is not lawful to pay unequal benefits as between men and women, trustees have a duty to equalise scheme benefits for the effects of unequal GMPs: Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank plc and others.