‘Safety net rather than a straitjacket’: Pension providers question Labour guaranteed income plan Personal Finance Pension providers have questioned whether the government can deliver on its plans to guarantee retirement income for millions of private sector workers. Pensions minister Torsten Bell unveiled plans on Tuesday which will require pension providers to offer workers an annual income as standard in retirement. Dubbed ‘Guided Retirement’, the overhaul is anticipated to bring private [...]
Dispatch: Discos and despair at the Labour Party Conference Opinion Labour conference parties, the Guinness revolution and the triple lock kibosh; catch up on the latest gossip in The Capitalist.
Savings from triple lock pension reform to take over a decade Economics Planned reforms to the triple lock on pensions will need 14 years before delivering savings worth more than £10bn, new government analysis has shown, as the Prime Minister admitted there was a “shortfall” in plans to fund a new National Care Service. At his flagship Labour conference speech on Tuesday, Andy Burnham announced that he [...]
Pensioners to hand over bank statements in government benefits crackdown August 26, 2026 Pensioners will have to hand over their bank statements to the government as part of its crackdown on the ballooning benefits system. The Department of Work and Pensions (DWP) is preparing to inform pensioners they will need to provide bank statements as part of its review into Pension Credit claims, I News first reported. The [...]
Starmer ally defends minimum wage quango after Sunak calls for it to be axed June 9, 2026 Welfare secretary Pat McFadden has leapt to the defence of the minimum wage quango after former Prime Minister Rishi Sunak called for the body to be axed. The top ally of Sir Keir Starmer told City AM it “would be a mistake” to abolish the Low Pay Commission (LPC), an independent body that advises the [...]
UK faces ‘urgent crisis’ on workplace sickness, review says November 5, 2025 The UK is facing a “quiet but urgent crisis” on workplace sickness that costs the country around seven per cent of GDP each year, a review by former John Lewis boss Sir Charlie Mayfield has found. The Keep Britain Working Review, an independent report by Mayfield for the Department for Work and Pensions (DWP) and [...]
Taxpayers give over billions for new vehicles under Motability scheme September 11, 2025 The budget for new vehicles under the Motability scheme for disabled people is higher than expenditure on school repairs across the UK, fresh analysis has indicated, in further evidence of the breakdown of the social contract. Number-crunching by the free market think tank Adam Smith Institute has shown that the scheme, which allows disabled people [...]
Labour revives Pensions Commission amid fears workers are saving too little July 21, 2025 Ministers are to resurrect the Pensions Commission amid fears that today’s workers face a greater risk of poverty in retirement than their parents. Experts have warned that people looking to retire in 2050 are on course to receive £800 per year less than current pensioners. The Department for Work and Pensions (DWP) said 45 per [...]
Labour urged to scrap state pension triple lock July 2, 2025 The government should scrap the £145bn triple lock on the state pension and employers should automatically contribute to private pensions, the Institute for Fiscal Studies (IFS) has said. Labour’s election manifesto last year said it would commit to keeping the state pension, while the Conservative Party pitched a ‘triple lock plus’ pension that would increase [...]
Labour to be handed ‘spying powers’ on bank accounts in Fraud Bill April 30, 2025 Labour is facing fresh questions over its Fraud Bill, which has been slammed for handing the government “spying powers”. The legislation, which passed in the Commons on Wednesday, bulks up the Department for Work and Pensions’ (DWP) ability to recover money directly from fraudsters’ bank accounts. The DWP pledged the reforms would deliver “the biggest [...]