European Court of Justice Ruling
In March 2011 a European Court of Justice ruling was made that prevents annuity providers from using gender to set different premiums for men and women. Annuity rates for men are generally higher than those for women because they have shorter life expectancies. The change means that either annuity rates for men will fall or annuity rates for women will rise.
In the UK any annuities that are taken out after 21 December 2012 will have to comply with the ruling.
Read more about this topic: Life Annuity
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