How pensions could be affected by the General Election 2015

The General Election is just two days away, and there are some notable differences between the parties regarding tax and pensions. Will the election result see further increases in the personal allowance as we’ve seen from the current government, more changes to pension fund release, or something different entirely? We’ve taken the plans for pensions and taxes after the General Election 2015 from the manifestos of the ConservativesLabourLiberal DemocratsUKIP and the Green Party so you can see what, if any, impact they could have on your personal finances.  

Tax

Pensions

 Although there are not many shared policies, the triple lock on the state pension appears likely to remain and further increases to the personal allowance is in multiple manifestos, and none of the parties have suggested any changes to pension release. However, pensioner benefits have less certainty, with disagreement over whether they should remain as they are or not.

What are your views on the pension and tax policies? Let us know with a comment below.

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The details provided in this article are for general information only and are in no way deemed to be financial advice. All of the material is correct as of the publication date, but could be out-of-date by the time you read the article. For our latest information and news, please see our articles section: https://www.portafina.co.uk/whats-new

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