There should have never been an opt-out for private-sector pension schemes.
That it has been left this long without being corrected / resolved is a blot on Labour and the Tories. And it will have to be fixed. The cost of fixing it is around £80m in additional liabilities for pension funds, as a guess from Liberty, but in fact nobody knows how many gay people have private-sector pensions, who they are, when and if they will get a Civil Partnership or marriage, how long they will live, etc. They have paid in, they deserve the pay out, in full. £80m is a drop in the ocean to pension funds.
Pity I can only give your comment 1 thumbs up, Gulliver. I’m a deferred member of a private pension scheme, and this discrimination has been my bugbear for years. I had expected equal marriage legislation to fix this, but clearly it won’t. The notion that it will be fixed at some time in the future is fantasy. When CPs were introduced, the same notion arose, but it’s still not been addressed. I simply don’t believe there was ever any intention to do so and I will not believe the Government now if they say they’ll fix it in the future for same-sex married couples.
When I asked my MP, Theresa May, why CPs were disadvantaged in pension rights, she did not reply. I shall ask her again on Monday.