What will the election mean for your pension: Is the state pension 'triple lock' safe?

Dailymail News

What will the election mean for your pension: Is the state pension 'triple lock' safe?
MoneyMoneypensions
  • 📰 DailyMailUK
  • ⏱ Reading Time:
  • 54 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 90%

We look at the promises the parties are making, what they will avoid talking about during the campaign, and what they might really do after the polls close.

A comfortable retirement will be on the wishlist of most voters, even if it is not typically cited as a top political priority when they are polled.

That is an indication of how seriously they take the fight for the support of older people, who tend to vote in higher numbers than the rest of the electorate. The basic state pension for those who retired before 2016 went up to £169.50 a week or £8,800 a year. However, older pensioners often receive hefty top-ups, via S2P or Serps, if these were earned during their working lives.

Meanwhile, triple lock supporters say many older people depend solely on the state pension, and are having a tough time paying food and energy bills after a nasty bout of inflation. The timing of the next rise to 68 is officially meant to happen between 2044 and 2046, which would affect those born on or after April 1977.

Lifetime allowanceThe Tories and Labour could be at odds over the recent abolition of the £1,073,100 lifetime allowance - the total limit people can have in their pension pot without facing tax penalties. Labour might yet drop the idea of reinstatement to retain the good will of doctors whose support they need to overhaul the NHS.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

DailyMailUK /  🏆 7. in UK

Money Moneypensions

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Colleagues elect 'Mayor Wonky Pants' as new ceremonial leaderColleagues elect 'Mayor Wonky Pants' as new ceremonial leaderMother-of-six Amy takes up the chain of office
Read more »

Solomon Islands lawmakers elect former foreign minister as new prime ministerJeremiah Manele won 31 votes in a secret ballot of 49 lawmakers.
Read more »

Solomon Islands lawmakers elect former foreign minister as new prime ministerJeremiah Manele won 31 votes in a secret ballot of 49 lawmakers.
Read more »

Could Scottish Labour's no confidence motion lead to a Holyrood electSCOTTISH Labour have announced they will be lodging a vote of no confidence in the Scottish Government.
Read more »

Could Scottish Labour's no confidence motion lead to a Holyrood electSCOTTISH Labour have announced they will be lodging a vote of no confidence in the Scottish Government.
Read more »

Could Scottish Labour's no confidence motion lead to a Holyrood electSCOTTISH Labour have announced they will be lodging a vote of no confidence in the Scottish Government.
Read more »



Render Time: 2025-02-25 16:09:52