View more on these topics

Anti-ageism pensions regulation delayed amid industry confusion

The Government has delayed the pensions aspects of the incoming anti-ageism laws.

Minister for Pensions James Purnell announced today that the important pension aspects of the EU Employment Equality (Age) Regulations will not now have effect until 1 December this year – a delay of two months from the original commencement date of 1 October.
This announcement follows months of uncertainty and speculation for those responsible for applying the age discrimination requirements to their pension arrangements.
The employment aspects of the regulations will still apply from 1 October, in line with DTI policy that changes to employment legislation should only be made twice a year – on 1 April or 1 October.
The DWP and DTI have also announced there will be a short informal consultation period to assess whether any amendments are required to provide greater clarity for schemes and employers.
Lovells partner Jane Samsworth, partner, said:
“We applaud the Government’s sensible and pragmatic response to widespread concerns by departing from its policy of implementing new employment legislation only on 1 April or 1 October in what is, for the pension industry, an exceptional situation.
The two month delay gives the Government more time to consider and respond to industry concerns and allows scheme trustees and sponsoring employers, many of whom are still reeling from the substantial upheaval involved with the introduction of new tax regime for pensions in April this year, some breathing space in which to review their scheme provisions from an age perspective and agree any necessary amendments.”


Top of the reform

European stockmarkets have outperformed most other stockmarkets the majority of the time since the current bull market started in the spring of 2003.

FSA set to axe age 70 rule

The FSA will scrap the age 70 rule on protection policies regulated under Cob rules, which will allow Icob advisers to sell policies maturing beyond age 70, according to several product providers.The regulator’s consultation period ended on Wednesday and responses from providers, advisers and trade bodies are expected to call for the abolition of the […]

‘No false dawn’

Performance of the Aggressive Adviser Fund Index has suffered lately, mainly as a result of its Japanese equity exposure. Nine Japan funds make up 7.4 per cent of the index and, according to data from Financial Express, the average Japan portfolio fell by almost 16 per cent in the six-month period ending August 29. Overall, […]

Make hay while the sun shines

In my last few articles I have discussed a number of key issues which should be of prime importance to clients and, therefore, also to their financial advisers in various aspects of pension planning.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm