Government proposes amendments to pension rules November 10, 2006Posted by C.A.R.D in Age Discrimination, Amendment, Card, Citizens Against Racism and Discrimination, government, Pension.
UK – The government has announced that it intends to amend certain elements of the Age Discrimination Regulations, regarding laws dictating pensions.
Following a two-month period allowing relevant parties to adjust to the new rules before they are due to be implemented in December, the government has chosen to make alterations to the original proposals.
According to the Department for Work and Pensions (DWP), the changes will include a number of exemptions for “employers, trustees and schemes” to allow the continuation of a number of existing practices.
In its statement, the DWP said: “As well as providing any necessary clarification, the amendments address a variety of concerns that have been highlighted by stakeholders during our recent consultation period.”
Commenting on the proposed changes in legislation in October, the Confederation of British Industry predicted that if the details of the law are to be finalised in November, it would not give businesses sufficient time to adjust to the changes.
Source: London Stock Exchange