Miners pension raid.

Report in the Chron.
Government have taken

£420 million since 2021.
£4.8 Billion to date.
Expected to be £6 billion +. by the end.
An average of £32k per miner. Based on 190,000.
Robbin bar stewards.

 

It needs pressure on MP s to press the government to change this ,for the beneficiaries who are still alive ,30 years and the pot will go to to fund ?.
I'm not holding my breath ,but it should be shared out to the members.

 

Didn’t Boris Johnson when PM promise one of the new Notts ‘Red Wall’ MPs that he would look into addressing this

 

To ber fair to Boris,he did promise a lot of things.

 

Yeah, I was of course being ironic/ sarcastic

 

I wonder if he's been looking into William Wragg's social media feeds?

 

Given that pictures were sent, not sure anyone would want to see that

 

Jesus these highly intelligent MPs are running the country ,bit naive hey

 

Can anyone give a nice simple of what the problem is? What happened? Or is happening?

 

When the fund was set up in the 1970s contributions from the miners was invested into the Miners pension fund.
The investments were so successful it multiplied immensely.
When British coal finished in the 2000s the government stepped in and became guardian or guarantee of the scheme.
They have since creamed around 4 billion in profits over the last few years as the membership as decreased with deaths.
I currently receive just over 200 pound a month in pension payments, this varies regards the years you were in the scheme.
The millions left in the scheme should be shared amongst the members not distributed elsewhere to prop the finances up .

 

But what if it had performed really badly, would you expect your pit pension to be topped up by the tax payer?

 

Tbf 200 a month wouldn't be that missed

 

They knew what they were doing .
They had seen the history of how the fund had performed.

 

I was sitting next to one my Uncle's mates in East Dene before a match a few years ago and he passed me a bit of paper. I started reading it and handed it back because it looked personal and saw it related to pensions but he insisted I read it. Essentially, it was a financial statement of the Miners Pension Scheme - if I remember correctly (and apologies if this is incorrect) it stated the value of the scheme was over 13 Billion with just over 100K members. I don't necessary believe that the money should be split between the remaining members though I do feel the money should be ring fenced and invested in areas where coal mining was prevalent.

 

.

 

Don't worry, Starmer will show his true colours and sort it....

 

Thanks for that ,fights our corner a little.

 

By rights it should be divided to all the members of the scheme and family if they've deceased. However, I dint kniw how much of a logistical nightmare that would be?

 

But it didn't. But as you're asking. The government have, After telling folk to join company pensions reneged on the protection they promised. Stole from the rich schemes and s41t on the poor buggers where schemes went/go tits up.