Protecting Pensions

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Judith with Albert Tillen, at the Red House in Newbury city (Hampton Red). 

Thanks to the Liberal Democrats in government, pensions are now tied back to the cost of living. The link was first broken by Margaret Thatcher, back in the eighties, and never restored during the Labour years.  Now Steve Webb and his team have pushed pensions back towards an even keel. If we are in government again, we will legislate to fix these changes in law. 

We have:

  • Guaranteed the state pension will rise each year by the higher of earnings growth, price inflation or 2.5 per cent.

  • Abolished the default retirement age-making it illegal for people to be sacked simply because they became a pensioner.

  • Guaranteed 9m people a workplace pension, which their employers and the government pay in to, giving everyone the confidence to save.

  • Introduced a new simple, single state pension to help people save for a better retirement.

  • Authored the freedoms announced at the budget to allow people with annuities the freedom to sell on their existing annuity.

Neither Conservatives nor Labour would have taken these steps. The Lib Dems have worked hard in this government to make sure our stronger economy has funded a fairer society than would have happened under a Tory government, and we will do the same again.

We will always fight the ideological Tory cuts that go far beyond the balancing of the national budget.

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