1,000 signatures reached
To: The Chairman of Trustees of the Mineworkers’ Pension Scheme Limited
Ballot the Members
Ballot the Members to Terminate the Arrangement with the Government
Why is this important?
Mineworkers Pension Scheme Trustees:- should ballot the Members of the Scheme to terminate the arrangement with the Guarantor ( Government ) where the benefit to the Members cannot be shown in continuing with the arrangement, and with £12 Billion to be distributed to it's aging Member prior to the closure of the Scheme. The scheme should solely operate for the benefit of its members who contributed to the fund and worked in some of the most dangerous conditions to the detriment of their health and note that successive governments have taken significant dividends in excess of £5 billion from the fund which would have otherwise improved the pensions and quality of life for former mineworkers.
It is important that the Members and relatives of the Scheme should benefit from the money the Mineworkers' put into the Scheme to improve their quality of life as they grow older. The Scheme has assets of £12 Billion 1 with a return from investments on average approx. 11% 1
per year giving £1.32 Billion income and the cost to meet the Pension Benefits of approx. on average £0.751 Billion. Showing that the Scheme with always produce a Surplus from which the Government will take 50% for being the Schemes Guarantor without the need for a Guarantee.
1. MPS Report & Accounts
Links to help show the injustice :- https://www.bbc.com/news/uk-england-tyne-44746537 https://www.ftadviser.com/pensions/2018/07/12/mp-blasts-government-for-stealing-miner-s-pensions/
Link to MPS Pension Campaign:- https://you.38degrees.org.uk/petitions/mineworker-pension-fight?fbclid=IwAR2XWRpKWkPW_De9Zo1rkIE3Op9iNVXoLYdxZf5fS18bKsJIbJ5QlgSrWe8
