GAD바카라 사이트檚 key role in pensions consultation
GAD has provided key support and expertise for a government consultation on pensions.
The 바카라 사이트 Actuary바카라 사이트檚 Department (GAD) has worked closely with the Ministry of Housing, Communities and Local 바카라 사이트 (MHCLG) on a consultation following a legal ruling.
Courts and consultation
The consultation, published on 16 July, is on proposals to remove age discrimination from the Local 바카라 사이트 Pension Scheme (LGPS) in England and Wales. The courts have found transitional protections given to older members in the judicial and firefighters바카라 사이트� pension schemes directly discriminated against younger members in those schemes.
The government confirmed its intention to remedy the difference in treatment across all of the main public service pension schemes in a . MHCLG together with HM Treasury and the Ministry of Justice all issued consultations on how such discrimination would be addressed.
The consultation from MHCLG is called Local 바카라 사이트 Pension Scheme 바카라 사이트� amendments to the statutory underpin. It sets out how the discrimination identified by the case will be removed. The operation of the existing underpin will be amended to ensure it remains appropriate for a wider application. GAD produced a series of worked examples (Annex D) which set out how the proposed underpin would work in different situations. Examples range from people who retire from active service at 65 to deferred retirement; who may or may not require an underpin uplift.
Remedy design
As part of this project, pensions experts in GAD also produced a specific supporting document called Annex A - Local 바카라 사이트 Pension Scheme - McCloud / Sargeant litigation: Equalities impact. This is designed to help MHCLG understand how LGPS members are likely to be affected by the proposed McCloud underpin remedy from an equality point of view.
GAD Actuary Jenny Bullen, who co-wrote the report, said: 바카라 사이트淭his was a complex and important contribution to MHCLG바카라 사이트檚 consultation. We provided support in remedy design and assistance in considering the appropriate treatment of technical issues.
바카라 사이트淚n our specific worked examples, we also considered the impact of the revised scheme design on different member profiles.바카라 사이트�
Consultation timeline
The consultation, which is open for 12 weeks, will close on 8 October 2020.