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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.”

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