ELECTION: SNP PENSION CLAIMS COULD RISK FAMILIES’ FINANCIAL SECURITY

By Bill Heaney

Labour is warning that the Scottish National Party’s pension claims could risk families’ financial security.

A new analysis for Labour reveals that promises made by SNP candidates in this election about doubling pension payments in an independent Scotland could put the system at risk of collapse.

House of Commons Library analysis for Labour, shows that an independent Scotland would have to spend over £16 billion – almost 10% of Scotland’s total economic output – on state pensions under policies proposed by SNP candidates.

This risks creating an unmanageable burden that could threaten the stability and security of Scottish pensions.

This week, Labour has unveiled commitments to support pensioners across Scotland, pledging to use Holyrood powers to protect free TV licences or support broadband costs for the over 75s to help them stay connected to their loved ones, and create a national care service delivering social care free at the point of need.

Jackie Baillie, above right, Deputy Leader of Scottish Labour Party, said “This election is about bringing our country together and getting our economy back on track.

“Pensioner poverty is a national scandal, but Holyrood has the power to change this. Families across Scotland deserve better than a distracted government that would gamble with their hard-earned financial security.

“At this election only Scottish Labour is on the side of older people, setting out a positive vision for a National Recovery Plan that will build a stronger and fairer Scotland.”

Jonathan Reynolds MP, Labour’s Shadow Secretary of State for Work and Pensions, said: “Everyone across the UK has the right to a safe and secure retirement, which means safeguarding the system for the future so that people can retire with peace of mind.

“This is another example of the benefit of pooling and sharing our resources across the UK.

“The SNP’s plan would risk hard-working Scots retiring only to find they can’t rely on a secure pension.”

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