Ex-mineworkers name on UK authorities to launch pension reserves | EUROtoday
Former Welsh mineworkers are urging the UK authorities to launch £2.3bn in reserves from their pension scheme so it may be paid out.
The authorities launched the equal cash from the Mineworkers Pension Scheme (MPS) within the finances in October, however the cash remains to be frozen for these within the various pension scheme, the British Coal Staff Superannuation Scheme (BCSSS).
Lindsey Hopkins, 75, is without doubt one of the greater than 3,000 former miners that could possibly be affected and stated the federal government had “thrown us to the wolves” by not treating each schemes in the identical method.
The Department for Energy and Net Zero stated it was to debate the matter with the Treasury.
Mr Hopkins began work on the Merthyr Vale colliery and continued within the business till 2010 in non-public mines after privatisation.
He retired at 60 attributable to sick well being, with points together with chest and joint issues.
He stated he was “very bitter” that the BCSSS reserves had not been launched to pensioners.
“Coal, steel and iron put this country where it is and look at us now – they’ve thrown us on the scrapheap,” he stated.
Mr Hopkins stated he felt successive governments had mistreated miners and their pensions.
“I’ve got no confidence in the government. Whichever government is in I’ve got no confidence. They’ve got their claws on it and they’re going to keep it rather than give it to someone else.
“It’s not theirs it is ours.”
Under an agreement signed 30 years ago, the government has been entitled to half the surplus cash in return for guaranteeing its value, although no money has been taken since 2015.
Previous Labour manifestos have said that the reserves of both MPS and BCSSS pensions would be released, however the 2024 manifesto only mentioned MPS.
BCSSS pension trustee Bleddyn Hancock said he believed it was an oversight, but one which urgently needed to be corrected.
“This is one thing we really feel very strongly about,” he said.
“We’ve earned this cash, we have needed to battle for the cash. We’ve suffered for it, we have bled for it and we have died for it.
“It’s our money and we want the government to end this injustice and return our money to us.”
Mr Hancock stated the cash would improve the pensions of these within the BCSSS scheme by about fifty per cent at a time when many are fighting the price of residing.
“We’re all old. We’re not saving for the future. The rainy day is here now.”
Leslie Davies, 77, from Nixonville in Merthyr Vale stated he was seeing former colleagues dying, and motion wanted to be taken quickly, and fairness was wanted between the 2 pension schemes.
“I don’t know why they haven’t done it because we all worked in the same industry and it’s time they sorted our pension out sooner rather than later,” he stated.
“We’re dying off as a group and there are men who will not have this pension. I don’t know how long it will take to have it and there’ll be a few more gone.”
Former miner Gareth Paine, 65, from Troedyrhiw stated he thought the federal government “hope we go away” however “at the end of the day, we all worked in the same place and we all took the same risks”.
BCSSS trustees just lately met business minister Sarah Jones, with Bleddyn Hancock saying it was a constructive assembly.
“She was very sympathetic, and I think she’d like to do something about it, however the matter is now with the Treasury and we’re waiting for their approval which I hope we’ll get, but it’s not a done deal, so the more pressure we put on the government to end this injustice the better,” he stated.
The Department of Energy Security and Net Zero stated: “The British Coal Superannuation Scheme operates in a different way to the Mineworkers’ Pension Scheme, as agreed with the scheme trustees.
“Minister Jones just lately met with the trustees of BCSSS and has dedicated to speaking to the Treasury about their proposals.”
“The authorities has taken no cash from the scheme’s surpluses since 2015. All of that surplus is used purely to fund future pensions.”
https://www.bbc.com/news/articles/c2eg7d9vjlpo