Your reconciliation exercise focussed on ensuring your records were aligned with HMRC’s on GMP entitlement and scheme membership. You may have investigated discrepancies and considered acceptable tolerances. By now, you’re likely to have a good understanding of the scheme members affected and the level of under and over payments due.
It’s important to ensure your GMP records are accurate before embarking on GMP equalisation. Where members are impacted by both GMP rectification and equalisation – calculations will need to be based on reconciled values.