Local Conservative Candidate Mary Macleod has welcomed new freedoms for pensioners, launched this Easter by the Chancellor, Rt Hon. George Osborne, at Syon Park Garden Centre.

From Easter Monday, pensioners could take advantage of far-reaching reforms designed to give people more control over their pensions. The reforms include:

1)      No 55% tax rate when you take more than your tax free lump sum out of your pension, but instead the basic rate of 20%.

2)      Free impartial guidance for people retiring.

3)      No more 55% tax on pensions if an individual over 75 passes away.

4)      No more restrictions on buying and selling annuities.

During his visit, the Chancellor had coffee with local residents and discussed the new rules coming into effect. He also met with workers at the Garden Centre and helped arrange some plant displays.

Commenting on the day, he said:

"Mary has done brilliant work delivering our Long Term Economic Plan for jobs and growth in Brentford and Isleworth. Since she has been MP, local unemployment has fallen by over 37%, over 53,000 local people have benefited from a tax cut and over 2,400 young people have started an apprenticeship.”

“Recent changes to the pension rules ‎will give people who have worked hard and saved all their lives freedom over their money – it is all part of our plan to build an economy on savings, not on debt.”

Mary added:

“Pension Freedom Day is an important part of our plan to give people security at every stage of their lives. Under Labour, pensioners weren’t trusted with their own money. Our reforms mean that hardworking taxpayers can choose how to spend their pensions. This has only been possible because of the big increases in the state pension under the Conservatives, which is now up by over £900”.