Conservatives have announced radical reforms to pension charges designed to help people who have worked hard and done the right thing by saving for their retirement.

The Financial Secretary to the Treasury, Sajid Javid MP, announced that the Government will:

 ·         Introduce a cap on pension charges to save hardworking people thousands of pounds.

·         Make sure employers and savers are better-informed about the pensions available, so they can make the choice that is best for them.

The Government will now consult on the best way of reducing these charges.

Henry commented:

“This is great news for local hardworking folk who are doing the right thing and saving for retirement. It will help ensure they get the value for money from their pension that they deserve.

“As well as protecting pensioner benefits, Conservatives have already taken action to: cut fuel duty, so that petrol and diesel prices remain 13p per litre (about 60p a gallon) cheaper than under the previous Government’s fuel escalator, now scrapped; increase the personal income tax allowance to £10,000 resulting in about 4,300 Crawley residents having been taken out of paying income tax altogether and a further estimated 45,000 households receiving reduced income tax bills; and to change the law to force energy companies to put customers on the lowest tariff.

“This announcement is another step Conservatives in Government are taking to help people who want to work hard and get on in life.”