2010-2024

Security in Retirement

  • Introduced and expanded automatic enrolment, helping 20 million more people start saving for retirement. In 2024, 20 million people were being automatically enrolled into a workplace pension, 88 per cent of eligible employees, with an additional £33 billion saved in real terms in 2021 compared to 2012.

  • Increased the State Pension by over £3,700 since 2010, delivering on the Conservatives’ manifesto promise to provide dignity in retirement. As of April 2024, the basic State Pension had increased by £3,736 since 2010, ensuring pensioners’ had the income they needed to live in dignity thanks to the Triple Lock.

  • Lifted 200,000 pensioners out of absolute poverty since 2010, supporting those most in need. From 2010 to 2024, there were 200,000 fewer pensioners living in absolute poverty, as the most vulnerable in society were protected.

  • Provided a new, simpler State Pension, recognising the years spent at home raising a family. The years spent raising a family are recognised better than they were in the past and count in full towards the new State Pension. By 2030, over three million women stand to gain an average of £550 more per year as a result of the Conservatives’ changes.