430. Former salary related contracted-out schemes to comply with guaranteed minimum pension requirements.

(iii)     Guaranteed Minimum Pensions

430.     Former salary related contracted-out schemes to comply with guaranteed minimum pension requirements.

A scheme that was a salary related contracted-out scheme1 is to be treated as including whatever provision it needs to contain to comply with the GMP requirements2. A scheme complies with the GMP requirements if, in relation to any earner's3 service before the principal appointed day4, it complies in all respects with the specified provisions5.