Local MP Attends Pensions Summit

Andy Reed MP attended a Government Pensions Summit yesterday. He celebrated the hard-work that has so far been done to tackle pensioner poverty whilst identifying that work still remains to be done to further improve the lot of pensioners.

Pension Credit means that no pensioner need live on less than £109.45 per week for a single pensioner and £167.05 for a couple. The down-rating of pensions and benefits when pensioners are in hospital is to be abolished.

In addition to the Winter Fuel Allowance of £200, pensioner households will now receive a £200 council tax refund. There will also be free local bus travel for all pensioners.

Labour have also introduced a number of measures, such as the Pension Protection Fund, to ensure that employer pension promises are honoured.

Reed said:

“Labour’s goal is to tackle pensioner poverty and ensure dignity in retirement for all. This means properly supporting those who have already retired, through for example the Winter Fuel Allowance, the Council Tax refund and a decent weekly pension.

“However, it also means helping people plan for their retirement in the future. The state pension age will remain at 65, but we are now giving more choice and flexibility in the way that people save for retirement and for those who choose to work for longer. This mixture of short and long-term measures will insure a viable pensions system for the future.

“The Tories have an awful record on pensions. In 18 years they chose to increase the basic pension only once – and only then to compensate for imposing VAT on fuel – leaving 2.7 million pensioners in poverty. Compared with 1997, pensioner households are £1,350 a year better off in real terms.”