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Mineworkers’ Pension Scheme

Part of Children Act 1989 (Amendment) (Female Genital Mutilation) Bill [Lords]: (Business of the House) – in the House of Commons at 5:52 pm on 14th February 2019.

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Photo of Stephanie Peacock Stephanie Peacock Opposition Whip (Commons) 5:52 pm, 14th February 2019

My hon. Friend is absolutely right. I want to make it clear at this stage that my complaint is not with the deal at large. There are some concerns over the details of the bonus element of the pension, whereby disappointing investment returns could see bonuses lost over time and members’ pensions worse off by around 30% in real terms—I intend to press the Minister on that issue later—but like the trustees I acknowledge that elements of the deal are beneficial.