Retirement, the Election and You

Retirement, the Election and You My Retirement Options Guiding you through a changing market Still unsure of who to vote for in this year's General Election? We've compiled some of the most relevant policies that could affect your retirement, in order to make it easier for you to decide. Liberal Democrats UKIP A Conservatives Labour Green Party RETIREMENT State Pension 'Triple Keep the 'Triple Lock': state pension, rising with inflation, earnings or by Keep the 'Triple Lock': state pension, rising with inflation, earnings or by Keep the 'Triple Lock': state pension, rising with inflation, earnings or by Introduce a new National Introduce new Citizen's Pension Company Lock' (state pension rising by 2.5% per year, with inflation or earnings Pension of £180 a week system, with a £2,000 for all - non means tested 2.5% per year, whichever is higher 2.5% per year, whichever is higher 2.5% per year, whichever invested grant to children - whichever is higher) is higher on birth Winter Fuel Allowance Protect Winter Fuel Restrict Winter Fuel Scrap Winter Fuel Protect Winter Fuel Keep Winter Fuel Payments for all - no Payments for the richest Payments for those on a Payments for all - no Allowance means testing 5% 40% income tax rate means testing HEALTHCARE NHS funding Increase NHS spending An extra £2.5bn in NHS Extra £3bn each year for Increase NHS budget by Increase real term funding at least £8bn a year, with by at least £8bn above funding the NHS £12bn a year inflation an extra £1bn a year until 2018 Looking toward further privatisation of the NHS, Aiming to cap the amount of profit private firms can Nigel Farage has previously backed a Privatisation within the The Lib Dems have stated End all privatisation and work towards a fully they will 'never let the NHS be privatised. It will always be there for everyone, free of charge' NHS with further contracts make from the NHS at 5% US-style insurance- publicly-funded NHS provided to private firms based system. The 2015 manifesto does not rule out allowing private companies to provide NHS services. ECONOMY Private sector rent caps Cap rent and introduce guaranteed five-year tenancy agreements No policy on rent caps Add a "ceiling" on rent They want to see limits No policy on rent caps increases and guarantee to annual rent increases three-year tenancy introduced agreements Tax increases on the No. Want to raise 40% tax Introduce a 50% income Introduce tax rises on the Introduce a new 30% 60% income tax rate on wealthy threshold to £50k tax rate for people earning wealthiest tax rate for those earning salaries above £150k. over £150k between £45,000 and Introduce a wealth tax of £55k - 40% thereafter 2% on those worth £3m+ FOREIGN POLICY Staying in the EU Hold an "in-out" Remain in the EU, Remain in the EU Leave the EU following a Hold a referendum on the UK's EU membership returning Britain to a "leadership role" referendum on Britains' referendum 'out' vote EU membership Welfare for migrants EU migrants must wait two years before claiming EU migrants must wait 2 years before claiming Migrants with poor English must attend language Migrants must wait 5 No welfare restrictions years before being elegible out-of-work benefits out-of-work benefits courses to claim Job for benefits Seeker's Allowance If you're still unsure which political party's individual policies align most with your views, it's worth reading each party manifesto online. Don't forget to cast your vote on 7th May. My Retirement Options is a service that connects people with independent financial advisors to find them their best income route in retirement.