Updated
Call for changes to miners pension fund rules
MPs are urging the Government to transfer £1.2bn to the pension find, which could lead to a £14 increase to the average weekly pension of £84.
The Business, Energy and Industrial Strategy Committee said that, since privatisation of the scheme in 1994, the Government has received 50% of surpluses in its value in return for providing a guarantee that the value of pensions would not decrease.
At the time it was expected that the Government would receive around £4bn from the arrangement in today s money, but that has increased to £4.4bn, and it is also due to receive at least another £1.9bn on top of 50% off any future surpluses, said the report.
MPs urge Government to fix historic injustice in mineworkers pension scheme
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MPs urge Government to fix historic injustice in mineworkers pension scheme
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MPs urge Government to fix historic injustice in mineworkers pension scheme
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