Angela Rayner MP, Shadow Pensions Minister, responding to the news as reported today on new pension arrangements, said:

“Labour has been pushing the Tories to make clear who will lose out as a result of the new pension arrangements and now the cat is out of the bag. 

"This news will be deeply worrying for younger workers, many of whom are already facing a Tory decade of low pay growth and struggling with high house prices. While at the same time millions of women approaching retirement have been let down by the Government’s mishandling of the rising of the state pension age. 

"It’s become increasingly clear that the Tories are making life ever more difficult for people who are saving for later life.”