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Hain in Ideal Position to Give ASW Workers a Fair Pension Deal
June 28, 2007 3:11 PM
As Peter Hain takes up his new position as Work and Pensions Secretary, Jenny Willott MP called upon him to secure a proper pensions settlement to former Allied Steel and Wire workers and over 100,000 others who have lost their pension savings.
Commenting, Jenny said:
"Having presided over the Wales Office for 5 years Peter Hain, will know more than anyone else in Government, the hardship and injustice dealt to former ASW workers in Cardiff. He now has a golden opportunity to change all this.
"After three years of campaigning, the Government has agreed to give ASW workers and others just 60% of their pension savings. But, if a pension scheme collapses today, scheme members are guaranteed to see 90% of the pension though the Pension protection Fund. This is deeply unfair.
"The Pensions Bill will soon come back to the House of Commons. Peter Hain is now in an ideal position as Welsh Secretary and Work and Pensions Secretary to provide a fair pension deal to ASW workers and all those who have lost their hard earned pensions through no fault of their own."
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