Guaranteed Minimum Pension (GMP) applies to occupational pension schemes that pay pensions based on final salaries (known as Defined Benefit Schemes) and opted out of the State Earnings Related Pension Scheme (SERPS) between 6th April 1978 and 5th April 1997. GMP has to provide spouses pension and escalation and also has to be paid from age 65 for men and age 60 for women.