I believe that we should encourage the responsible, hard working people who diligently save their money and plan for retirement. The pensions system should ensure that those people are encouraged and rewarded. I made that point today to Pensions Minister.
Does the Minister agree that pensions tax and pensions means-testing help destroy our pensions system? What are the Government doing to ensure that it always pays to save for a pension?
My hon. Friend is right that at the moment there is a concern that if people save small amounts of money, all they do is deprive themselves of means-tested benefits. That is why our state pension reform is absolutely essential to ensure that when people do save they are better off as a result, and we look forward to that being a firm foundation for auto-enrolment when it starts later this year.
It has been an honour and privilege to serve as Member of Parliament for Dover & Deal. I hope to be re-elected to serve our community for another term.
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Please email me at firstname.lastname@example.org or ring my office on 01304 379669 if you need to get in touch.