Stephen believes that older people who have worked hard all their lives should have dignity and security in retirement. Conservatives have given the biggest ever cash increase to the state pension, as a result the value of the full basic State Pension is now £2,050 more than it was a decade ago. The State Pension is supported by further measures for older people, which include the provision of free bus passes and free prescriptions.
The UK Government is providing support with energy bills for low-income and vulnerable households through the Warm Home Discount, Winter Fuel Payments and Cold Weather Payments.(The Winter Fuel Payment, will see £200 paid to households where someone has reached State Pension age and is under 80, rising to £300 where households contain someone aged 80 and over. This is direct help for pensioners to assist them meet their heating costs over the winter period. Cold Weather Payments are also available, and the Warm Home Discount is payable to pensioners in receipt of pension credit guarantee credit and provides a £140 rebate on their energy bills.)
They have made it easier for pensioners to pass on their pension pots to families’ tax free and have scrapped the requirement to buy annuities so they can spend their pension savings as they want.