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
Famous quotes containing the words european, court, justice and/or ruling:
“It has become necessary to call the attention of European governments to a fact which is apparently so insignificant that the governments seem not to notice it. The fact is this: an entire people is being annihilated. Where? In Europe. Are there witnesses? One witness, the entire world. Do the governments see it? No.”
—Victor Hugo (1802–1885)
“World history is a court of judgment.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“Hell is a city much like London—
A populous and a smoky city;
There are all sorts of people undone,
And there is little or no fun done;
Small justice shown, and still less pity.”
—Percy Bysshe Shelley (1792–1822)
“Still doth the soul, from its lone fastness high,
Upon our life a ruling effluence send.
And when it fails, fight as we will, we die;
And while it lasts, we cannot wholly end.”
—Matthew Arnold (1822–1888)