After many years of campaigning, around 112,000 former coal miners will receive a pension scheme pay-out totaling £1.5bn, according to the first budget delivered by Chancellor Rachel Reeves. The boost of around 32% per year, which has been kept from their pensions since the privatisation of British Coal in 1994, comes alongside a review aiming to ensure that mineworkers receive a “fair pension”. The scheme, which affects tens of thousands of families in former mining areas including South Wales and the north-east of England, will now be seen as fair and beneficial after being labelled a scandal by energy secretary Ed Miliband.
During the campaign, former miners and campaigners said they were “fighting for justice” due to the years of unfairness which has finally been resolved. This has meant that many of the ex-miners will now be able to live better for the remainder of their lives and remain happy in their retirement. The Conservative government at the time had stated that the scheme was fair and beneficial, but this has now been acknowledged as a gross injustice by the current government.
The Government will take half of the surplus cash from the pension scheme in return for guaranteeing its cash value under the agreement signed 30 years ago, which is expected to create a fair balance over time between workers and the government. Nick Smith, Labour MP for Blaenau Gwent and Rhymney, who has long campaigned on the issue, projects that the latest announcement will make a big impact on many people, and is grateful that the mission to put things right is finally being achieved.
Professional coal miners such as Gareth Jones, who used to work at Lady Windsor Colliery in Rhondda Cynon Taf, and Garry Owen from Swansea Valley, who worked at Lady Windsor Colliery for over 30 years, along with campaigners and ex-miners are pleased with the outcome after raising their voices for many years about the unfair treatment. The recent government review proves that they’ve finally been heard and acknowledged, and the payment to these mineworkers will finally be distributed in a fairer proportion as desired by the miners for many years
Read the full article from The BBC here: Read More
