Uncertain times

UK pension schemes have now had several months to get used to operating in a non-age discriminatory way for benefits accruing from 1st December 2006. There was a lot of uncertainty at the end of last year, with the legislation being amended at the last minute in response to industry pressure, but has the dust now settled? Well - yes and no. For many schemes the final legislation does allow them to operate in much the same way as before. That is, their scheme design is not age discriminatory under the legislation, because the legislation specifically exempts common scheme practices (e.g. s...