Many will have done more of it in recent years as the scheme considers a derisking exercise. This is especially true if weighing up a buy-in or buyout, as gaps in the data will pad the premium.
Business as usual
So what should schemes do for members with GMP liabilities? Nothing. Well, nothing different. Think of it as business as usual and treat those members exactly the same as you would pensioners or actives. Because, if you can't trace a member, it doesn’t matter whether they are deferred or a pensioner, you have the same problem, regardless of the calculations you may be running in the background.
Keep on top of the GMP element and conduct your annual data trace in order to satisfy your common data requirements.
If nothing else, if you have some gaps in your data where members used to be, you have a very good reason for going out and finding them.