UK: New pension equality rules could cost companies 'millions'

Submitted by Anonymous on Fri, 2012-01-20 19:03

Article here. Excerpt:

"The Department for Work and Pensions on Friday outlined plans to force companies that offered “guaranteed minimum pensions” in the Nineties to reassess the different accrual rates for male and female members of the scheme and equalise overall benefits to avoid discrimination.

Under the law at the time, women could collect their state pension five years earlier than men, when they reached 60. Men could only start claiming their pension at 65.

This rule has never been updated for the guaranteed minimum pension scheme since, despite case law in 1990 which ruled it was unlawful to discriminate between men and women in relation to occupational pensions.

According to equality campaigners, this gives female members of the guaranteed minimum pension retiring today an unfair advantage as they can get hold of the benefits sooner than men.

The new rules outlined by the DWP on Friday would see men be able to claim payments at the age of 60."

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Comments

... the redress is in favor of men. If it's in favor of women, well, it's a great victory for equality!

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Submitted by Matt on Sat, 2012-01-21 01:22

Quote from Matt:
"If it's in favor of women, well, it's a great victory for equality!"

Yep, that's how they think! Some are more "equal" than others.

MAJ

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Submitted by digital_dreamer on Sat, 2012-01-21 10:04

What I find really mind boggling is how men have a shorter life expectancy, and are expected to work for more of their lives. If either gender deserves pension benefits sooner, it's the male gender! At least something is being done to rectify this, albeit those working on it are acting like whining babies in the process.

Evan AKA X-TRNL
Real Men Don't Take Abuse!

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Submitted by xtrnl on Mon, 2012-01-23 03:47