Age Discrimination....?

Although older employees are protected by the "Employment Equality (Age) Regulations 2006" act, does it also protect younger employees, for example a younger employee who is more skilled being paid less than an older worker who is less skilled, but paid more simply because they're older?
Update: who have less experience as well.
Update 2: a little not to Nekkra F- the person In question is only 5 years older than myself, he doesn't have anything better than me, he has not been at the company longer, his academic credentials are significantly inferior as is his experience. He is a complete waste of space (as commented by my other colleagues). ... show more a little not to Nekkra F- the person In question is only 5 years older than myself, he doesn't have anything better than me, he has not been at the company longer, his academic credentials are significantly inferior as is his experience. He is a complete waste of space (as commented by my other colleagues).

what you've done is assumed too much and tried to be clever while at the same time abrupt. When in actual fact you've simply made yourself look quite the opposite.
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