Sentences with phrase «normal occupational pension»

In contrast to how normal occupational pension schemes operated, to be a registered pension scheme there was no need for members of that scheme to have an employment relationship with the employer who had established it.

Not exact matches

to take any action otherwise prohibited under subsections (a), (b), (c), or (e) of this section where age is a bona fide occupational qualification reasonably necessary to the normal operation of the particular business, or where differentiation is based on reasonable factors other than age; to observe the terms of a bona fide seniority system or any bona fide employee benefit plan such as a retirement, pension, or insurance plan, which is not a subterfuge to evade the purposes of this Act, except that no such employee benefit plan shall excuse the failure to hire any individual; or to discharge or otherwise discipline an individual for good cause

Members of a wound - up company's occupational pension scheme who have the right to retire at age 60 in respect of any part of their service and who were aged between 60 and 64 at the date that the scheme commenced winding up, fall within s 73 (3)(b) of the Pensions Act 1995 (PA 1995) but not in respect of pension or other benefits accrued by service to which a normal retiring age of 65 applies.