Both Labour and Conservative are pledging to look after the older voter while Gen Z is being ignored
Baby boomers are being courted with financial inducements from both main political parties. Millennials and Gen Z, not so much. Here we assess the intergenerational impact of the election so far.
Security incident at pension scheme being taken ‘extremely seriously’, but broadcaster says there is no evidence of a ransomware attack
The BBC has launched an investigation after the details of more than 25,000 current and former employees were exposed in a data breach.
The corporation’s pension scheme wrote to members on Wednesday to say their details had been stolen in a data security incident that it was taking “extremely seriously”.
We look at whether the Conservative pledge for a ‘triple lock plus’ can really be paid for by cracking down on tax avoidance
The Conservatives have announced plans to boost pensioners’ income with a “triple lock plus”. It is a pitch to a group who, according to many polls, are the most likely to support the Tories, and is seen as a measure designed to shore up the party’s core vote.
The work and pensions secretary has said Labour will drag millions of older people into paying income tax while the Conservatives can “comfortably” raise the money for their proposed cuts for pensioners by clamping down on tax avoidance.
Under the Conservatives’ “triple lock plus” proposal , “millions of pensioners will get tax cuts worth hundreds of pounds over the next parliament”, Mel Stride told BBC Radio 4’s Today programme.
Labour reiterates claims that pensions will have to be cut to fund Tory idea to scrap national insurance
Labour has opened applications for a string of new safe seats after half a dozen MPs announced last-minute retirements, with key allies of Keir Starmer expected to be lined up to take their place.
Those standing down include the former shadow minister Barbara Keeley, the chair of the parliamentary Labour party Jon Cryer, as well as John Spellar, Virendra Sharma and Kevin Brennan.
Pensioners used to have a bigger personal allowance than people of working age – it was the Conservatives who got rid of it.
So this is one of many examples actually of tax policy that has been reversed by the same Government. George Osborne got rid of it in the 2010s when the personal allowance of people under pension age continued to rise.
Unite union says workers are being ‘fleeced’ by supermarket’s changes to pension contribution rules
Almost 1,000 workers at two Morrisons warehouses will strike for the next three days over a cut in company contributions to their pensions which they say is worth up to £10m a year.
The warehouse stock controllers, cooks, canteen staff, and administrators at the sites in Gadbrook, Cheshire, and Wakefield, West Yorkshire, who earn between £12 and £13 an hour, say they will lose out by an average of £500 a year each from the company’s plan to reduce how much it puts into their pension pot while forcing workers to pay more.
It may not sound very exciting, but for many people in their 40s, 50s and 60s topping up your state pension can generate a better return than almost any other way of using your savings cash. In very simple terms, if you invest about £800-£900 now and end up living well into retirement, you could get back £6,500-plus. Live to a very ripe old age and it could be £10,000 or more.
Under the new state pension system, if your national insurance (NI) record started before April 2016 you will need at least 35 years of NI contributions or credits to qualify for the full payment of £221.20 a week.
People who receive the new state pension can get thousands a year more than those on the old basic scheme
Sheila receives the basic state pension and says it is a struggle to make ends meet. “We’re supposed to survive on pocket money,” says the widow, aged 81. “I don’t go out because I can’t afford it. I used to go for a coffee to treat myself but not any more. It’s too expensive. If I buy clothes it is at the charity shop.
“The way we have to live is not nice at all. There’s masses of people in the same position. It makes you isolated because if you can’t go out and have a little spend it is not living is it?”