Comment on unisex insurance pricing

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

Age UK

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Age UK is the new force combining Age Concern and Help the Aged, dedicated to improving later life.

We provide free information, advice and support to over five million people; commercial products and services to over one million customers; and research and campaign on the issues that matter to people in later life. Our work focuses on five key areas: money matters, health and well being, home and care, work and training and leisure and lifestyle. We work with our national partners, Age Scotland, Age Cymru and Age NI (together the Age UK Family), our local Age UK partners in England and local Age Concerns. We also work internationally for people in later life as a member of the DEC and with our sister charity Help Age International.

Age UK is a charitable company limited by guarantee and registered in England (registered charity number 1128267 and company number 6825798). Age Concern England and Help the Aged (both registered charities), and their trading and other associated companies merged on the 1st April 2009. Together they have formed the Age UK Group ("we").  Charitable services are offered through Age UK and commercial products are offered by the Charity's trading companies, which donate their net profits to Age UK (the Charity).

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