Guaranteed 100%, like the failed banks and their employees and the "The steelworkers should have the pensions they paid for fully "If the steelworkers at Tata have to go into the PPF it is a There are also restrictions on some of the other benefits andĮntitlements related to pensions. Maximum level of inflation applied to pensions accrued after that date Savings made before 1997 will not rise with inflation - and the Restrictions on how much of their pensions will rise with inflation. Their entitlement - and will see their payout capped. Under the PPF, the 85,000 members who have already retired keepġ00% of their savings, which rise in line with inflation.īut the remaining 45,000 who have not retired face a 10% cut to Steel pension scheme who would be affected by the scheme being put into There are 45,000 yet-to-retire steelworkers in the affected British Their hardearned money to be stolen, like happened to ours at ASW." "It must be up to politicians and the unions not to allow Promised and paid for over a period of time," he said. They most likely will lose possibly 50% of the pensions they had been Industry in general, must be made aware that if they do enter the PPF "The workers at Tata, and those connected to the steel Protection Fund (PPF), and might lose far more than they expected. Steel pensions could be tipped into the pensions lifeboat, the Pensions John Benson, who worked atĪSW's Tremorfa works for 41 years, said that the former British Wire in 2002 warned that the current and former steelworkers faced aĭevastating blow they might not expect. Years in the wake of the collapse of Cardiff steelmaker Allied Steel and Valuation two years ago - and has emerged as a major obstacle to anyĪ former steelworker who has battled for pension rights for 14 The former British Steel pension fund has one of the biggestĭeficits of any UK pension fund - PS485m at the time of the last Talbot's steelworks and the other remaining Tata Steel plants Pension savings as part of any deal to secure the future of Port Tens of thousands of former steelworkers face losing part of their Their pension deal to AMID the desperation to tackle the crisisįacing the steel industry in Wales, one impending fiasco has gone APA style: Leaky lifeboat to the rescue as steelworkers' pensions at risk With Port Talbot steelworks hanging in the balance, campaigner for steelmen's pension rights John Benson warns that a large slice of workers'payouts could be lost and their entitlements restricted in the event of any deal.Leaky lifeboat to the rescue as steelworkers' pensions at risk With Port Talbot steelworks hanging in the balance, campaigner for steelmen's pension rights John Benson warns that a large slice of workers'payouts could be lost and their entitlements restricted in the event of any deal. MLA style: "Leaky lifeboat to the rescue as steelworkers' pensions at risk With Port Talbot steelworks hanging in the balance, campaigner for steelmen's pension rights John Benson warns that a large slice of workers'payouts could be lost and their entitlements restricted in the event of any deal.
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