The Government should reform the Mineworkers’ Pension Scheme set up in 1994 following the privatisation of the coal industry, so that pensioners receive an immediate uplift, and the scheme is revised so Government is only entitled to a share of surpluses if the Scheme falls into deficit.More details

For a quarter of a century consecutive governments have taken financial resources out of the scheme and put them into the Treasury. The scheme was allegedly drawn up to ensure that retired miners’ pensions were protected but the intervening years have shown that the agreement was massively over generous towards the Government, whose concerns over their exposure to risk were totally unfounded.

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