The belief that pensions are excluded from new age discrimination legislation is a fallacy. From 1 October, 2006 – ‘Age Day’ – the Employment Equality (Age) Regulations 2006 will prohibit discrimination against employees and pension scheme members on the grounds of their age.
The implications for pension schemes are a far cry from the Government’s initial assurances that pensions would be “entirely excluded from the scope of age discrimination legislation”. Although there are certain specific exceptions for (mainly) occupational pension schemes, there is no blanket exemption. Reviewing scheme rules and practices to assess areas of possible exposure is crucial.
