The miners’ strike of 1984/85 is a well-documented event, and is one of the most recognisable events of the Thatcher era. But what is less talked about is the miners’ pension scheme. Or most notably, the fact that successive governments have funnelled money, to the tune of £8bn, out of the scheme while leaving many miners destitute.
An industry decimated with pensions under threat
After the privatisation of British Coal in 1994, the then Conservative government agreed to underwrite the miners’ pensions scheme. This was to ensure, in theory, that the miners’ pensions were protected. The deal was that the scheme would track the rate of inflation, and rise accordingly. But in return, the government would be able to take half of any extra cash that was…
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