Steven Cameron, Pensions Director at Aegon, comments on the Liberal Democrats general election manifesto: “The Liberal Democrats’ manifesto is short on policy measures around private or workplace pension while offering up some giveaways around state pensions.
“While silent this time round on any radical reforms of pensions tax relief, the Lib Dems indicate they would like to address pensions for gig economy workers. While their proposed new category of 'dedicated contractor' is worthy of fuller consideration, as proposed it misses the trick of coming with an entitlement to be auto enrolled into a workplace pension.
“No political manifesto would be complete right now without something on tackling the huge social care funding crisis. The Lib Dems offer a very helpful promise to cap how much an individual has to pay, putting pressure on other political parties to follow suit, although it remains to be seen if 1p extra in income tax will come close to bridging the funding gap even as a short term measure."
“Traditionally childcare costs are a major reason why women drop out of the workforce and the Lib Dems’ proposals on bringing forward the provision of free childcare to working parents from nine months would go some way in addressing this challenge which could prove a welcome step towards reducing the gender pensions gap.
“ESG is an important part of the investment process and it is no surprise therefore that regulating the financial services industry to encourage green investments is included within the Lib Dems’ manifesto. ESG means different things to each of us so much more needs to be done to develop practices here.”
Reference:
*https://www.libdems.org.uk/plan
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