Conservative calls to tackle MP pensions adopted

Conservative calls for public sector pensions to be looked at have been taken up by the Government. The Conservative party have for sometime now been calling for the final salary pension schemes in the public sector (including MP's pensions) to be reassessed in the light of the closure of many private schemes. Conservatives were calling for a review as far back as 2006 amid growing concerns on the cost of public sector pensions which are not included on the Governments borrowing figures. A report from the Centre of Public Policy in 2006 put the cost of unfunded public sector pension schemes at £720 BILLION. David Cameron in speech last year warned of the growing apartheid in the pension sector with many private pension providers being forced to close their final salary schemes as a result of Gordon Brown's raid on the pension sector. Pensioners are now really suffering, because of falls in interest rates on their savings, reduced value of their pension funds due to falls in the stock market and reduced dividend payments.

Conservatives would

increase the personal allowances for all pensioners by £2000

and

Stop basic rate taxpayers paying tax on their savings.