UNITED TECHNOLOGIES CORPORATION (UK) PENSION SCHEME YEAR ENDED 31 DECEMBER 2024
NOTES TO THE FINANCIAL STATEMENTS
Guaranteed Minimum Pension (GMP) In October 2018, the High Court determined that benefits provided to members who had contracted out of the state second pension must be recalculated to reflect the equalisation of state pension ages between May 1990 and April 1997 between men and women. In November 2020, a further ruling by the High Court determined that transfers out of a scheme in respect of members who had contracted out of the state second pension must also be recalculated to reflect the equalisation of state pension ages between May 1990 and April 1997 between men and women. The Trustee is continuing to review, with its advisers, the implications of this ruling on the Scheme. As soon as this review is finalised and any liability quantified, a communication will be issues to affected members.
26 Subsequent events
There are no matters requiring disclosure in these financial statements.
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