The Liberal Democrats are to vote on a proposal to create a new minister for ageing at the party’s annual conference today as it sets out a series of changes to welfare and saving policy.
At the Lib Dem conference in Glasgow today, members are expected to vote on an Ageing Society Policy Paper to address how Britain deals with a population growing older.
Lib Dems want a minister for ageing to be created as well as a cabinet committee on ageing and wellbeing and a statutory independent older person’s commissioner.
Lib Dems also want an annual Office for Budget Responsibility report on intergenerational equity and a Treasury review into how an ageing population will affect financial markets, including the case for longevity bonds.
The policy paper also backs extending auto-enrolment to include auto-escalation, so employees increase their pension contributions alongside pay rises.
In addition, it supports enshrining the triple lock on the state pension into law so it rises with inflation, earnings or 2.5 per cent, whichever is highest.
The paper also re-iterates calls to scrap the winter fuel allowance and free TV licenses for higher rate taxpayers.