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 The Problems
Over the past 15 years, successive governments have blatantly given state pensioners an unfair deal. Despite Great Britain being the fourth largest economy in the world, our pensions have been allowed to fall further and further behind other countries, and to-day more than 2 million pensioners live on or below the poverty line. Our Solution We would address this by increasing the full basic pension to £120 pw for a single pension and £192 pw for a couple. For a single pensioner this means approximately £30 pw more. Pensions would be increased in line with the annual level of earnings. We will retain the Heating and Christmas Allowances Funding This will be achieved by redistributing funds following the Treasury Route and Branch Review, and utilising some monies saved by withdrawal from the European Union. Private Pensions -- The Problem The Fact that £37 billion in taxation has been stolen from private pension funds by the present Government has contributed to pension fund deficits in our top 350 companies now stand at £93 billion pounds, leaving million s of people to face unanticipated financial hardship on retirement. Our Solution Remove private pension taxation allowing the funds to keep £5 billion a year. Ring fence company pension schemes to prevent Government, Employers or Shareholders raiding them. Working with the pension industry to set up a contingency fund. Funding We would ensure that monies raised by these measures are retained by the private pensions for fair distribution to their members. Popular Alliance – A Fresh Light On Politics
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