Warning UK could be bypassed after ECJ ruling

The ECJ outlawed gender-based insurance pricing on the grounds of discrimination on 1 March. It is expected men's annuities, which are typically higher due to shorter longevity, will be slashed by providers in response. Ken Wrench, chief executive of London & Colonial, says the ruling places providers under the ECJ's jurisdiction in greater competition with non-EU insurers. "Some enterprising non-EU insurer could in theory establish a very simple qualifying recognised overseas pension scheme (QROPS), where the money goes into the scheme in another country, then turns into an annuity a...