One of the key challenges for the next Conservative government will be to restore trust in our pensions system and dignity and security for our older citizens.
The Labour Government has nothing to be proud of on its record. In 1997 we had one of the strongest private pension systems in the world. Not any more. Mr. Brown’s raid on pension funds has taken £5 billion a year out of people’s savings. Government figures show the poorest pensioners are actually getting poorer, whilst at the same time many are not claiming the benefits they are entitled to due to the complicated system Mr. Brown has put in place.
The Conservative Party is committed to increasing the Basic State Pension in line with earnings, not prices, in order to stop the spread of the means test. And we will reform the financial structure to protect against a run on a bank, and make sure people's savings are protected by:
- New deposit protection legislation - so depositors can get their money back immediately
- Measures to ensure deposits are ring-fenced if a bank is taken into administration |
