Source · Select Committees · Business and Trade Committee
Recommendation 15
15
Rejected
The Government’s guarantee has undoubtedly benefitted the Scheme’s members by providing vital security that the...
Conclusion
The Government’s guarantee has undoubtedly benefitted the Scheme’s members by providing vital security that the value of pensions will not decrease. However, the price of this guarantee is no longer fair. (Paragraph 64) Mineworkers’ Pension Scheme 25
Government response summary AI-generated
The government rejected the conclusion, stating it continues to believe the 1994 arrangement was fair and beneficial to both scheme members and taxpayers, with the government bearing all the risk.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Rejected
HM Government · verbatim extract
Rejected
The Government continues to believe that the arrangement agreed in 1994 was fair and beneficial to both Scheme members and taxpayers. Scheme members have rightly shared in the benefits but the Government has taken on all the risk.
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