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Age Discrimination: Insurance exemption
The Employment Equality (Repeal of Retirement Age Provisions) Regulations 2011 include an amendment to the Equality Act 2010, permitting employers to withdraw or refuse to offer "insurance or a financial related service" to employees aged 65 or over (or over state pension age if greater). However, the way in which the exemption is framed is not helpful to pension schemes as:
- the exemption is available only if the cover is provided by the employer to the employee directly, and does not refer to trustees holding insurance; and
- it refers only to insurance, meaning that schemes with self-insure death benefits are not covered.
Author: Georgina Beechinor