Commenting on today’s ruling on unisex insurance pricing from the European Court of Justice, Age UK Charity Director Michelle Mitchell said:
'The judgment is bound to create winners and losers, but this isn’t a green light for insurers to impose excessive price hikes. To guard against this, insurers need to be much more transparent and accountable about their pricing.
'Older customers should make full use of the information and advice available when shopping around for the best deal, particularly for annuities which are an irreversible decision.
'In relation to pensions, the judgment underlines the importance of reforms such as auto-enrolment and increasing basic state pensions. Such reforms will help women to build up an adequate pension of their own, so they are no longer forced to rely on their husbands for their retirement income.'
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Notes to Editors
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