Through chloe harcombe, ruth bradley, BBC Information, Somerset
doug laborerWith the overall elections fast approaching, many societies are interested in what changes they would like to see from the upcoming government. Pensions and the future of departures are two issues society is curious about, and voters in Somerset have spoken to the BBC your voice your vote Marketing campaigns.
Radstock, like builder Doug Laborer, 63, of Chilcompton, wants the holiday period to be reduced because he is finding it “more difficult” to physically manage the job.
“I don’t know how I’ll cope until I’m 67,” he said.
“How can it possibly be true that I started working at the age of 16, and I have to work until I am 67?”
He said he found it “at best unfair” that children who would remain in full-time education until the age of 18 would work two years less than those who would otherwise.
He added, “I’ve obviously paid more stamps (National Insurance contributions) than him, and worked two years longer than him.”
He disagrees with the emerging departures future, and wants it to be reduced again to 65.
Michael Stancliffe lives in Bridgewater.
The 86-year-old, who was originally from Yorkshire, worked in newspapers before his departure.
He has voted throughout his generation, but at the moment it is not certain whether he will vote in this election or not.
He said the Lahar government had “badly let down pensioners” by failing to implement any changes to taxes or costs.
“For my entire generation it’s been doing, doing, doing,” he said.
In the future, Mr Stancliffe would like to see private pensions become tax-free.
He receives four separate pensions and all of them are taxable.
He earns £53 a week from one, but pays a “ridiculous” £12 in tax on it.
“For me it’s all about the pension,” he said.
“I have been paying taxes for 71 years. I will continue paying taxes till I die.”
The government pays the state pension every four weeks to people who have reached the qualifying age and have paid enough in National Insurance contributions.
According to the Department for Work and Pensions, there are more than 12 million recipients in the UK.
Men and women born between 6 October 1954 and 5 April 1960 become eligible for the payments when they turn 66.
But for people born after this date, The state pension age is increasing,
- For people born on or after April 5, 1960, the age gradually increased to 67.
- For people born on or after April 5, 1977, the age gradually increases to 68 between 2044 and 2046
The triple lock was introduced by the Conservative-Liberal Democrat coalition government in 2010.
It was designed to ensure that the value of the state pension did not exceed increases in the cost of living or the incomes of the working population.
Under the system, the state pension increases each April in line with inflation, average wage growth, or 2.5% – whichever figure is the highest.
Both the Conservatives and Labor have committed to keeping the triple lock.
The Conservatives have promised to introduce “triple lock plus”, meaning less people will pay income tax on their pensions.
But Labor said the plan was not “credible”.
state pension cost of government £110.5 billion in 2022/2023, but the Office for Budget Responsibility estimates this figure will rise.
getty imagesHow will the different parties tackle pension issues?
traditionalist Has promised to introduce “Triple Lock Plus”, which will increase the personal tax-free allowance for pensioners. This would mean that future increases in the state pension would not be impacted by income tax.
Labor Has said it will maintain the triple lock, meaning the state pension will be increased by the highest of average earnings growth, CPI inflation, or 2.5%. The party has also said it will pursue workplace pension reforms.
Triple lock will also be maintained liberal democrat, The party also pledged to introduce measures to close the gender pension gap in private pensions.
green Party The manifesto pledges to ensure pensions are always increased in line with inflation and keeps pace with wage growth in the economy, as well as ordering UK pension funds to remove fossil fuel assets from their portfolios.
Improvement has said it will review pension provision, adding that the current system is too complex and comes at a high cost.
What really matters to you in this general election? What is the factor that can influence your vote? Click the button below to post your concept, and it could be featured on the BBC.
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