Starmer slip on pension lump sum inflames fear of retirement tax raid

TOP Tories have accused Sir Keir Starmer of a "triple attack" on older people after he said he would scrap the pension lump sum allowance if he wins the keys to No10 next week.

- Martyn Brown

Labour was forced to quickly deny such a move, insisting the party leader made an "old-fashioned mistake".

But the Conservatives said it would strike fear into millions of pensioners who do not trust Labour with their hard-earned finances and benefits.

Prime Minister Rishi Sunak has warned repeatedly that the Opposition will impose a "retirement tax" by not honouring his triple lock plus.

That would mean the new state pension will be dragged into income tax for the first time in history.

Tories also claim Sir Keir will ditch the right to withdraw 25% of personal pension pots tax-free, leaving savers paying tens of thousands more to the Treasury.

And they suggest Labour will not guarantee pensioner benefits like winter fuel payments and free prescriptions, bus passes and TV licences.

The party has denied the claims.

Risk

However, Work and Pensions Secretary Mel Stride said: "Keir Starmer has made his three-point plan for pensioners abundantly clear - tax, tax, tax.