The Pension Policy Institute (PPI) has released research outlining the various political party agenda's to reform the UK pension system in the run up to the General Election next month.
Paramount to its findings is how various policies will tackle means-tested pensioners, which it says will increase by 650,000 people from a current 2.7 million people in the next five years under the current system. The Conservative party's proposals over the same period would see an increase of 400,000. Its policies would seek to increase the Basic State Pension in line with earnings, taking people off means-testing only if the Pension Credit grows at a slower rate says the PPI. The Tories would still increase Pension Credit in line with earnings during its first term, while longer ter...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes