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| Conservatives 'would refresh pension system' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Tuesday, 13 April 2010 00:00 |
 The Conservatives have today (April 13th) pledged to "reinvigorate occupational pensions" should the party win the May 6th general election.In its pre-election manifesto, entitled Invitation to Join the Government of Britain, the party has outlined its plans to rejoin the basic state pension and average earnings, a measure which will be compulsory under law by 2015. However, unlike Labour, which yesterday announced it plans to make the same change by 2012, the Conservatives have not committed to a timeframe as to when they would implement this policy. The party is placing emphasis on incentivising saving, supporting auto-enrolment and also intends on closing the gap between public and private sector pensions by capping those in the public domain that are above £50,000. In other pension-related plans, the Conservatives are committed to reversing the effects of the abolition of the dividend tax credit and will also seek to end the compulsory annuitisation of payments at the age of 75. The document states: "We will help stop the spread of means-testing by restoring the link between the basic state pension and average earnings, making it worthwhile for people to save." Posted by James Strang 
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