Everybody should have enough to live on when they retire, but low wages and underemployment mean that people are not able to save as much for their retirement as they need. Because people are living longer – meaning that their pensions need to last for 20, 30 or even 40 years – many people find themselves in an even more vulnerable position. Liberal Democrats are looking to the future and will build a country that is the best place in the world to save for, and enjoy, retirement. We will:
- Retain the Triple Lock on the basic state pension, so that it rises in line with the highest of wages, prices or 2.5 per cent.
- Ensure that the women born in the 1950s are properly compensated for the failure of government to properly notify them of changes to the state pension age, in line with the recommendations of the parliamentary ombudsman.
- Address continuing inequalities in pensions law for those in same-sex relationships.