Only in EU is penalising both women and men seen as a kind of equality
Marina Yannakoudakis, MEP for London and Conservative Women’s Rights Spokesman in the European Parliament, criticised today’s entry into force of EU gender neutral pricing rules.
The new rules, which follow a ruling by the European Court of Justice, mean that gender can no longer be used as a basis for pricing for car insurance and pensions. This will lead to women being burdened with higher insurance premiums and men receiving lower pension annuities.
Women drivers could face a 40% rise in their car insurance premiums, with female drivers under 30 set to be hit hardest. Male pensioners could be left up to £10,000 worse off in retirement thanks to the ruling.
Marina Yannakoudakis MEP said: “This ruling is gender equality for gender equality’s sake
“Only in the EU could penalising both women and men be seen as a kind of fairness
“The ruling flies in the face both of common sense and the overwhelming evidence that women drivers represent a lower risk to insurers.
“Women drivers who have not already changed their policies should shop around to ensure that they get the best deal.”