Labour Manifesto 2017:
Labour will always be on the side of pensioners and help ensure security and dignity for older people in retirement.
As the Conservatives abandon their commitments to older people, Labour will guarantee the state pension ‘triple lock’ throughout the next Parliament. It will rise by at least 2.5 per cent a year or be increased to keep pace with inflation or earnings, whichever is higher.
The Winter Fuel Allowance and free bus passes will also be guaranteed as universal benefits.
We will protect the pensions of UK citizens living overseas in the EU or further afield.
Over 2.5 million women born in the 1950s have had their state pension age changed without fair notification. These women deserve both recognition for the injustice they have suffered and some kind of compensation for their losses.
Alongside our commitment to extend Pension Credit to hundreds of thousands of the most vulnerable women, Labour is exploring options for further transitional protections, to ensure that all these women have security and dignity in older age.
This must never happen again. Labour will legislate so that accrued rights to the basic state pension cannot be changed, but future benefits can.
The pension age is due to rise to 66 by the end of 2020. Labour rejects the Conservatives’ proposal to increase the state pension age even further. We will commission a new review of the pension age, specifically tasked with developing a retirement policy to reflect both the contributions made by people, the wide variations in life expectancy, and the arduous conditions of some work. We’ll restore confidence in the workplace pension system and put people rather than profit at its centre. Labour will end rip-off hidden fees and charges, and enable the development of large efficient pensions funds, which will mean more cash for scheme members and lower costs for employers.
A Labour government will commit to an immediate review of the mineworkers’ pension scheme and British Coal superannuation scheme surplus, sharing arrangements between government and scheme beneficiaries.