Michael has supported the UK Miners Pension Scheme for Justice and Fair Play Association’s (MPSFA) campaign for a fair and just pension scheme, after billions of pounds worth is estimated to have been removed from the UK miners’ pension pot.
The Mineworker’s Pension Scheme is currently underwritten by the Government, with the Government receiving half of any surplus from the fund each year. However, unexpectedly large surpluses from the fund in recent years has meant that the fund has been losing out – with one estimate showing that the current pension fund of £11.2 billion has lost out on £8 billion over the years. Michael is supporting the MPSFA’s campaign for the Government to review the 50/50 split of pension surpluses.
David Nixon, Secretary of the MPSFA welcomed Michael's support, saying:
“It is our intention to right a wrong that has been carried out since 1994 on our ex miners pension, their widows and their families and we warmly welcome Michael Dugher’s strong commitment to support this campaign.”
Commenting, Michael said:
“I am pleased to be backing the campaign to for the Government to review the share that the Government receives from surpluses of the Mineworker’s Pension Scheme.”
“Former miners in Barnsley and across the country made a massive contribution to our country over the years and it is right that they should have a fair deal for their pensions.”