OPIN-2018-0073 Guaranteed pensions for former Allied Steel and Wire workers (e) Tabled on 08/02/2018
1. Acknowledges the promise the UK Government made to the Allied Steel and Wire steelworkers to guarantee compensation for the pensions taken from them at the time their firm went under.
2. Recognises that in decades of work, the workers paid for 100 per cent of their pensions, but that in 2007 they agreed to accept only 90 per cent.
3. Further acknowledges that inflation since 2007 will have wiped out 25 per cent of the value of a pension issued in 2007.
4. Is concerned that the UK Government has now refused to grant the ASW pensioners inflation-protected pensions.