By Adam Uren, The Mail Online
Women buying an
annuity can get a retirement income 12 per cent higher now than before
'gender neutral' pricing was introduced just under a year ago.
Annuity
rates have been on the rise since the turn of the year as a result of
improved investment returns on the bonds and gilts that underpin them,
but it is women who have benefited most thanks to EU rules introduced
last December.
These gender
equality rules meant insurance companies are not allowed to
discriminate because of sex when offering to convert pensions into
annuity incomes.
But once the EU rules were brought in
this could no longer be taken into account, meaning women's rates rose
and men's fell as the prices equalised.
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