Labour

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".

Labour's pledge to reduce the auto-enrolment threshold is a step in the right direction but lower paid employees are still missing out under the ‘band earnings' rules, according to Scottish Widows.

Labour is set to announce plans that would see an extra 1.5 million workers automatically enrolled into a pension scheme.

Labour has backed the Chancellor's move to radically overhaul the pension system, which will give retirees freedom to do what they want with their money at age 55.

Pensions minister Steve Webb has led a House of Commons defeat of a "deeply flawed" opposition amendment on charges in the Pensions Bill.

The Labour Party has confirmed its policy to restrict higher-rate pensions tax relief to fund job creation will be in its 2015 manifesto.

Steve Webb's commitment to introducing a charge cap on auto-enrolment (AE) schemes has "shamefully" collapsed, according to Labour Lord Desmond Browne.