Labour

The next government cannot afford to wait until 2017 to review minimum auto-enrolment contributions, according to pensions minister Steve Webb.

Labour will cap the pensions lifetime allowance at £1m and restrict the annual allowance to £30,000 to help fund a £2.7m reduction in tuition fees if elected, it has announced.

Labour will carry out a comprehensive review of tax planning schemes, including the use of deeds of variation on wills, should the party get to power following the general elections, shadow chancellor Ed Balls has said.

A Labour peer has attacked the annuity market, claiming it "plays fast and loose" with the regulatory framework.

Labour has urged the government to ensure none of the 320,000 savers expected to take advantage of pension freedoms are exposed to "rip off charges".

More than 100,000 owners of valuable homes would have to pay an average of almost £1,000 a month under Labour's mansion tax plans.

Labour should reverse the pension freedoms announced in the Budget 2014 if it wins the general election in May, a leftist think-tank has said.

Labour will continue to push through developments on an automatic pension transfer system if it wins the next general election, it has been confirmed.

Steve Webb has hit out at Labour's plan to lower the auto-enrolment threshold, saying it would leave low earners with a pension of less than £2 a week at retirement.

The Institute of Economic Affairs (IEA) has warned that Labour's recently announced plans to extend auto-enrolment to lower earners would "damage businesses" while "failing to help low earners".