EY’s Guaranteed Minimum Pension exercise

The information on this website is only relevant for members of the Plan. ‘We’, ‘us’ and ‘our’ refer to the Trustee of the Plan.

We wrote to members of the Plan in September 2025 to say that we have to check a part of their pension known as Guaranteed Minimum Pension (GMP). We also explained about our consultation on converting GMP into normal (non-GMP) pension.

We’re making your EY pension fairer and simpler

We are carrying out this exercise to make Plan pensions fairer and simpler. Although this might result in adjustments to benefits, most members will see no change to the overall actuarial value of their pension. For any members who do see a change, it is likely to be very small.  

We have started sending out personal statements

There’s nothing you need to do. During August 2026 we sent personal statements to many members showing how we have had to adjust their benefits. For some members, this is taking us slightly longer. There can be several reasons for this, depending on the member. For example, it could be because of a change in your personal circumstances or that we need to carry out more work to make sure we calculate your pension benefits correctly. It’s nothing to worry about and is a routine part of the exercise.

You can no longer respond to the consultation, as the consultation period has come to an end

In this video we summarise the main points about what we are doing.