Guaranteed Minimum Pension (GMP)

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Piggy banksIf your membership in the LGPS includes a Guaranteed Minimum Pension (GMP), then at age 60 (women)/65 (men) or at the date of your retirement if later, your LGPS pension for membership prior to 6 April 1997 will be compared with your GMP and increased to the rate of your GMP should this be higher. In most cases, your LGPS pension is higher than your GMP. 

If you retire and choose not to draw your pension immediately, the GMP element (if any) of your pension must be paid from age 60 (women) / 65 (men), unless you are still in some employment at that time and consent to postponement of payment of your GMP.