13/06/2026
🚨The Socialist Labour Party’s, fully costed, policy on Pensions:
🔴The SLP supports the introduction of a state pension based on equivalence with the national living wage. We also support the right to retirement at a younger age rather than the ever increasing older ages proposed by governments in Britain both Tory and Labour. We support the retention of the ‘Triple Lock’ but insist that it should be based on keeping pace with the Retail Price Index (RPI) rather than the Consumer Price Index (CPI) as proposed by the main parties - the CPI rate is consistently lower than RPI.
🔴In Britain there are around 12.4 million people of pensionable age, many growing old in poverty, unable to buy sufficient food or heat for their homes: in many cases, pensioners are having to choose whether to eat or to heat and many must go to food banks to exist. Pensioners are worse off in real terms than they were in 1978. To add insult to injury, the Government, and local authorities 'steal' the savings, assets and homes of pensioners who have to go into a care home. These pensioners have paid for their health and welfare care by paying tax throughout their lives.
🔴The proportion of employees in a public sector occupational pension scheme was 91% compared with 75% in the workplace pension scheme in the private sector.
🔴UK state pensions account for £112.5 billion, but private UK pension schemes now hold assets valued at a massive £3 trillion – more than enough to help pay for every pledge outlined in this Manifesto. The SLP wants a national state pension for all, payable at the age of 65; a national state pension equal to the national average wage with a guarantee that future pension increases are in line with any increase in the national average wage.
🔴Our Party is opposed to the Tory workplace pension scheme which is, basically, based on a money purchase arrangement and in effect on stocks and shares, profit and loss – as opposed to pension entitlement for every person who has earned the right to a standard of living after retirement which recognises the contribution they have made throughout their life.
🔴The WASPI (Women Against State Pension Inequality) issue arising from the 1995 Pensions Act which led to women born in the 1950’s being financially disadvantaged through inadequate notice and advance notice of pension age qualifications is an open wound requiring address. The SLP supports full financial reparation to all women affected by this iniquitous act.
🔴The Socialist Labour Party condemns the pension changes as a cynical attempt by the Government to reduce its obligation to pay decent pensions. Our Party rejects all the recommendations and proposals which have already been thoroughly discredited.
🔴Our Party’s commitment is to a pension equal to the national average wage. This would give all pensioners an annual pension of £41,600. The additional cost of the pension arrangements proposed by the Socialist Labour Party can easily be met out of the £3 trillion currently invested in private pension schemes.