SPL paper regarding the Age Discrimination and Employment Equality (Age) Regulations (SI 2006/1031) and HMRC Approved Plans

SPL paper regarding the Age Discrimination and Employment Equality (Age) Regulations (SI 2006/1031) and their interaction with HMRC Approved Plans sent to Kevin Meehan at HM Revenue & Customs on 5 September 2006.

The covering note referred to the fact that several members had contacted HMRC with questions regarding the age discrimination legislation and in particular regarding the following key points:

  • in SIP and SAYE plans is any specified age within the range permitted by the legislation in accordance with the Regilations or must that age be objectively justified?
  • what does “bound to” retire in SAYE rules mean after 1 October 2006?
  • can companies retrospectively change the rules of their approved schemes to comply with advice they have received on the Regulations without loss of tax approval and if so, can SPL and HMRC approve a process for this.

The paper summarises issues arising under the Regulations in relation to approved plans in more detail.

The following attachments are included:

  1. Extract from Inland Revenue Manual regarding Barber v GRE Assurance: attachment to SPL paper regarding the Age Discrimination and Employment Equality (Age) Regulations (SI 2006/1031) and their interaction with HMRC Approved Plans sent to Kevin Meehan at HM Revenue & Customs on 5 September 2006; and
  2. Letter dated 26 September 1992 from HM Revenue & Customs summarising sex discrimination rules and the impact on approved plans: attachment to SPL paper regarding the Age Discrimination and Employment Equality (Age) Regulations (SI 2006/1031) and their interaction with HMRC Approved Plans sent to Kevin Meehan at HM Revenue & Customs on 5 September 2006.
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Keywords: Age discrimination, Amending Plan Rules, CSOP, EMI, HMRC compliant plans, Retirement, SAYE, SIP
Categories: Document archive, Employment Law