Tories’ plans ‘are confusing pensioners about their finances’

Plans of the Conservatives regarding pensions will confuse older people regarding their finances – some of whom may already be struggling with debt – a rival political party has warned.

The Liberal Democrats have remarked that the Tories’ proposal to raise the state pension age will throw the retirement of millions of elderly individuals into question.

Expecting such people to work longer and contribute to public finances is “confused and unfair”, the party has remarked, as the David Cameron-led side has yet to confirm when they would restore the link between increases in the state pension and average earnings.

A press release from the party states: “The Conservatives have acted irresponsibly and cast doubt on the retirement plans of millions of older people who now fear they may have to work longer.”

Earlier in the month, Robin Ellison, a pensions expert and partner at Pinsent Masons, claimed that the current set-up for people when they finish working is unfit for its purpose.

By Joe Shervin