General

Your Retirement and the
European Union Gender Directive

One of the most significant changes to affect retirement, the EU Gender Directive comes into force on the 21 December 2012 and could reduce the pension income available of all men (and potentially their partners on joint life cover) retiring after 20 December 2012. From this date, annuity providers will no longer be able to price products based on gender.

We estimate that this equalisation will generally see male annuitants lose between 2% and 4% in pension income. HM Treasury has gone further, suggesting it could be as much as 13%. Either way, men who are thinking of retiring in 2013 could get a significantly higher pension if they decide to retire now instead.

Johnson Gibbs understands the impact this could have if you do not have the chance to consider the options available to you. We want to give you the maximum opportunity to help you make an informed decision on how the EU Directive will impact on your potential pension income.

For further information contact Johnson Gibbs on 01926 494457 or email consultants@johnsongibbs.co.uk to discuss how this will affect your personal circumstances.

Posted in General, News