Wednesday, 15 April 2015

Giving people more security in retirement

We’re giving people more security in retirement.
As part of our long-term economic plan, we’re extending the 65-plus pensioner bond scheme by three months – helping pensioners boost their savings with market-leading rates.
Labour left the country in the deepest recession since the war, with many pensioners seeing their incomes fall as a result of the low interest rates pursued to support the economy during this difficult period.
But with our 65-plus bond, Britain is helping pensioners out in return. The bond is already the most successful savings product in our history, and now over a million pensioners will have the opportunity to benefit.
We’re also backing our pensioners by:
  • Raising the state pension by £800 since 2010 – our triple lock ensures that pensions rise every year in line with wages, prices or by 2.5%; whichever is highest
  • Committing to keep the triple lock for the next Parliament
  • Abolishing Labour’s 10p tax on savings – so pensioners keep more of their hard-earned money
Our plan is supporting people who do the right thing. The 65-plus bond is the latest example of that, giving pensioners the opportunity to get more from their savings – so they’re more financially secure in retirement.