My colleague Nick Smith MP (Blaenau Gwent) secured a Westminster Hall debate this week on the British Steel pension scheme and the companies who have been trying to mis-sell terrible schemes to those pension holders.
There was an absolute lack of information provided to the pension scheme holders by the UK Government during its transfer and this resulted in a number of companies providing poor advice to deliberately benefit from the proceeds of transfer.
Currently, 17 companies are under investigation. We cannot let steelworkers, either those still working in the industry or those already in retirement, lose their pensions. The UK Government need to take this seriously and ensure a proper investigation is undertaken by authorities and greater protections are in place for pension holders.
Parliament returned, yesterday, following conference season. I was eager to press the pensions minister on WASPI women as nothing was mentioned by the Government during their conference on how they will help all the women born in the 1950’s who are seeing their pensions drastically changed.
I reminded the minister that I, and a group of cross-party MPs, have a Bill which is due to be read in April 2018 that seeks to put right the wrongs of this Government. I wanted assurances that the Government will adopt our Bill. However, the minister refused saying that the Government will keep pressing on with this calamitous measure which is placing so many constituents in Delyn in financial and mental pressure. I will continue to campaign with the WASPI women for a fair deal, irrespective of the ministers poor response.
I will be presenting petitions gathered and collected by WASPI campaigners to parliament on the 11th October 2016.
In the mid-1990s the then Conservative Government introduced legislation to make bring the State Pension Age of women come into line with men. However, many women were not notified of the increase in their state pension age until very recently, leaving them with very little time to prepare for the change in the law. Read more “Date set to present WASPI Petition to Parliament”