How the UK election could impact pensions
By Kirsten Hastings, 31 May 17
What looked like a sure thing when UK prime minister Theresa May called the snap election back in mid-April has turned somewhat muddy. Aegon pensions director Steven Cameron has taken a look at what the parties’ manifestos mean for pensions.
Cameron said: “Whether you think the outcome on 8 June is a foregone conclusion or, in today’s unpredictable world of politics, firmly up for grabs, the party manifestos signal a raft of changes to pensions and retirement regardless of the party in power.
“There’s no avoiding the challenges of our ageing population and as a result, intergenerational fairness is firmly part of politicians’ policymaking. Recent analysis showed pensioners’ incomes after housing costs have risen to just 7% lower than those of the working population.
In this gallery, Cameron considers key proposals from the Conservatives, Labour and Liberal Democrats and what these might mean.
“Of course, just because something doesn’t feature in a manifesto doesn’t mean it won’t happen, and vice versa – we’ve already seen the Conservatives ‘update’ their policy on social care,” he added.
Click through the slides above to see what changes potentially await.
