Glossary and Definitions

As Data Controller under the General Data Protection Regulations, the trustee has both a legal obligation to process to process data relating to you, and a legitimate interest in doing so. This may include passing on data to the Plan’s actuary, auditor, administrators, and such other third parties as may be necessary

Guaranteed Minimum Pension. The minimum pension that an occupational pension scheme must provide as one of the conditions of contracting out of SERPS for service rendered before 6 April 1997 (unless it was a DC scheme contracted out through the provision of protected rights).

The amount of retirement pension available to you before any of it is exchanged for a cash payment at retirement. Your gross entitlement excludes any extra pension bought with additional voluntary contributions (unless you bought a joint-life pension from the Fund).