European pension rule to cost men £10,000

AP Photo/Geert Vanden Wijngaert)

Men will lose up to £10,000 of their retirement income because of new European rules, where brought in at the end of last month. The change is meant to ensure that financial firms cannot discriminate between women and men. However, the end result will mean much less generous pensions for men.

And it's going to come as a nasty shock for thousands of retirees.