Because they're just tax and spend social democrats:
Proposals to impose tax on lump sums withdrawn from their pension pots by the newly-retired will be set out today by a think tank linked to the party leadership.
They would affect anyone taking out more than £42,000 as a lump sum on retirement. Currently pension-holders can withdraw £450,000 from their pot tax-free.
Look you pseudo-socialists - people have already paid tax on that money. You know that income tax stuff.