News: House of Lords calls for rethink of gender equality legislation.

Pensions Week, September, 2004

The House of Lords has called on the European Commission to ban the use of gender in assessing premiums and benefits for pensions, annuities, insurance and other similar financial transactions.

A House of Lords EU Committee report called on the European Commission to re- think details of the proposals designed to extend gender equality legislation to trade good and services.

Lord Williamson of Horton, chairman of the inquiry, said: "Britain has the biggest annuity market in the EU, and the only one where annuitisation is compulsory for some pensioners.

"The special characteristics of the UK annuity market must be taken into account. Many women who depend on the annuities of male breadwinners stand to lose out."

The EU also pointed...

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