Labour manifesto confirms pension plans

The Labour Party has confirmed its pension plans in the formal launch of its election manifesto, days after a previous draft was leaked. There was no change from the key commitments in the draft, which include maintaining the triple lock and a pledge to compensate women born in the 1950s who have had their retirement age raised at short notice.

It did not specify what the women affected by this change would get, but stated: "Labour is exploring options for further transitional protections, to ensure that all these women have security and dignity in older age." It also said that while benefits may change, the accrued rights to the basic state pension will not.

The manifesto also confirmed the party's intention to "reject" any increases in the pensionable age beyond the planned rise to 66 in 2020. Instead, it will commission a review of the pensionable age with a view to making this flexible, depending on the kind of jobs people have done during their working lives