Why Labour?

Over the last ten years pensioners have done well out of our growing economy.  The challenge now, while still providing for today’s pensioners, will be to encourage and reward saving for all people to ensure greater well-being in later life. 

Today’s pensioners are better off than any previous generation – for the first time, in a period of sustained economic growth, pensioners are less likely to be poor than people of working age.

We also have to deliver for the millions of people who care for elderly or disabled relatives, so that they can manage financially and balance the responsibilities of work and caring.

Key achievements:

• A million pensioners have been lifted out of poverty since 1997
• We are spending around £12 billion more on pensioners in real terms than under the Tory years
• We have brought in the £200 Winter Fuel Allowance for over 60s and free TV licences for over-75s
• This year Labour has provided an additional one-off payment for 12 million people alongside the Winter Fuel Allowance to help with rising fuel bills - with an extra £100 for the over 80s and an extra £50 for the over-60s, on top of the existing Winter Fuel Allowance
• We have given carers of elderly or disabled people the right to request flexible working
• We have legislated to tackle unfair age discrimination in the workplace
• Average pensioner incomes from the state are up by 25 per cent, more than the rise in earnings over the last decade

Winning the fight for Britain's future:

• When it is affordable, we will re-link the basic state pension to earnings.  We aim to do this by 2012 or by the end of the next parliament at the latest
• We will recognise the break many people take to bring up children or care for others so that almost half a million extra women currently between 45 and 55 would be entitled to a full basic state pension
• Occupational pensions will be more secure, thanks to the Pension Protection Fund.
• By April 2011 no pensioner over 75 will pay any tax on incomes under £10,000
• To help vulnerable groups with rising energy prices the government would like energy companies to increase the amount they spend on social tariffs which reduce rates for vulnerable people. Acting with these companies and Ofgem the government will draw up a plan to achieve this and will legislate as necessary