Annuities: EU Rips Off British Pensioners.

Those retiring since 2012 are getting around 20 per cent less from an annual annuity than those outside Europe because of EU regulations. It has led to claims Britons are being ripped off, with Brussels bureaucrats once again interfering in British affairs. Under the Solvency II directive, insurance companies, including pension providers, must keep a lump sum in reserve to ensure they can always meet claims. Express.