Cost of living increases on Meber of Parliaments contracted out pension(GMP)

The request was successful.

Dear House of Commons,

Can you please let me have copies of the pages from Members of Parliaments pension scheme booklet that explain how guaranteed minimum pensions (GMP) are worked out and who pays the increases after a MP has reached state pension age on their pre and post 88 GMPs.

Yours faithfully,

C. Thompson

FOICOMMONS, House of Commons

Dear C Thompson,

Thank you for your request for information dated 9th May 2014, received by us on the same date, which is copied below.

We will endeavour to respond to your request promptly but in any case within 20 working days i.e. on or before 9th June 2014.

If you have any queries about your request, please use the request number quoted in the subject line of this email.

Yours sincerely,

Sarah Price | IRIS Support Officer
Information Rights and Information Security (IRIS) Service | House of Commons

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FOICOMMONS, House of Commons

Dear C Thompson,

 

 

Freedom of Information Request F14-255

 

Thank you for your request for information as copied below. You asked for
copies of the pages from Members of Parliaments pension scheme booklet
that explain how guaranteed minimum pensions (GMP) are worked out and who
pays the increases after a MP has reached state pension age on their pre
and post 88 GMPs.

 

For the purposes of the Freedom of Information Act 2000 (FOIA), this
information is not held by the House of Commons.

 

The Parliamentary Contributory Pension Fund (PCPF) is an externally
managed scheme which is not subject to the FOIA. However, wherever
possible the Trustees of the Fund try to provide individuals with the
information they have requested, so we have included an explanation of how
the GMP increases are paid below.

 

The GMP is calculated by HMRC who confirm the figure directly with the
PCPF administrators. Due to the way the PCPF interacts with the State
Second Pension Scheme, the pension received is split into a number of
elements for the purposes of calculating the annual pension increase.

 

Pre 88 GMP – Increases to this element are normally paid by the Department
for Work and Pensions (DWP) with the State Pension.

 

Post 88 GMP – The PCPF is only required to increase this element up to a
maximum of 3% per annum. Where CPI is greater than 3%, the DWP will
normally pay the increase due in excess of the 3% with the State Pension.

 

The PCPF pays the full increase on the pension in excess of the GMP.

 

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If you remain dissatisfied, you may appeal to the Information Commissioner
at Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF,
[2]www.ico.gov.uk.

 

Yours sincerely,

 

 

         
IRIS Officer
Information Rights and Information Security (IRIS) Service | House of
Commons

 

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