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More must be done on miners’ pension fund

8 September 2016

The 50/50 split of the miners' pension surplus should be renegotiated to be more equitable, says Peter Stefanovic

Recently I was contacted by Les Moore, an ex-miner whose story of injustice sent my emotions rocketing. Generations of brave miners paid into a pension fund with their blood, sweat, and tears, many with their lives. All sacrificed their health, some suffering a slow and lingering death because of their working conditions, and they did it because they wanted a better quality of life for themselves and their families upon retirement.

In 1994, when the coal industry was privatised under John Major's premiership, a deal was struck which has enabled successive governments to take a staggering £8bn from the miners' pension fund, leaving miners and their families destitute. The government agreed to underwrite the fund on the condition it could take 50 per cent of any surplus. The ...

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