Most defined benefit schemes will miss the April 2016 deadline for accurate assessments of members' guaranteed minimum pension (GMP) rights, according to new research.

The research, by EDM Group, found nearly half (49%) of pension professionals surveyed expect DB schemes to miss the deadline, and a quarter (27%) believe DB schemes are 'largely' or 'extremely' unaware they will have to hold accurate assessments of their members' GMP rights.

There were 68 participants in the research, which took place in June this year.

Lee Foord, associate director for EDM Pensions Data Services, said: "Many trustees maybe unsure of what all the changes mean and are putting off decisive action, but it is ultimately their responsibility to ensure that the members' GMP data is reconciled ahead of the April 2016 deadline"

As part of its phasing out of the state second pension, or 'SERPS', the Government is passing responsibility to DB schemes to administer 'contracted out' rights and ensure scheme members are paid the correct GMPs.

This will require schemes to ensure that their own data matches the records held by HMRC. The Government is offering a service enabling 'reconciliation' of data between HMRC and schemes' data, but to use this service, schemes must hold accurate assessments of their members' GMP rights by April 2016.

EDM's latest research showed that just 23% believe most schemes will meet the deadline; 11% believe most schemes will miss it by up to three months, 12% by up to six months and 26% by up to one year or more.

Around 4,500 pension schemes in the UK are affected by the GMP changes but many of these are expected to struggle to meet the deadline because their information is inconsistent and held on a variety of formats such as paper and microfiche going back several decades.

EDM associate director Lee Foord said the process sounds complex, but can be simple with the right approach.

"The irony is that despite the procrastination and fears, reconciling GMP data can be a much more straightforward and easier task than trustees realise," he said.

First published 11.12.2014

Lindsay.sharman@wilmington.co.uk