Terms
Company
AstraZeneca PLC.
Fund
The AstraZeneca Pension Fund.
GMP conversion
This is the technical term given to the process of converting GMP into a non-GMP element of pension.
See our ‘Questions and answers’ page for more details.
GMP equalisation
This is the technical term given to the legal requirement the Trustee has to address the historic GMP inequality between males and females.
See our ‘Questions and answers’ page for more details.
Guaranteed Minimum Pension (GMP)
GMP may be one part of your Fund pension. It’s linked to the old two-tier State Pension arrangement.
Put simply, past GMP benefits may be unequal because the State Pension Age used to be different for men and women. Following the High Court ruling, all UK pension schemes like ours must adjust benefits for the effect of unequal GMP.
See our ‘Questions and answers’ page for more details.
Trustee
The Trustee of the AstraZeneca Pension Fund. The Trustee is responsible for the administration and operation of the Fund in line with the Fund’s Rules and legislation.