MP Conor McGinn has praised a recent report which he claims sees the Government 'profit from miner's hard-earned pensions'.

The Commons Select Committee has today published a damning report into the Government’s handling of / approach to the Mineworkers’ Pension Scheme (MPS) – the larger of the two pension schemes for former British Coal workers, affecting many in St Helens.

The report questions the underlying fairness of the MPS in its current form, particularly the 50:50 arrangement for sharing surpluses, which has disproportionately benefitted the Government to the tune of some £4.4 billion over the years, without it having paid any funds back in return.

Given this, it concludes the Government ‘should not be in the business of profiteering from mineworkers’ pensions’, highlighting how it is now ‘untenable for the Government to continue to argue that the arrangements remain fair’, and ‘disingenuous’ of them to claim the Trustees are content with the current terms.

It also makes a set of recommendations, including amending the 50:50 split in favour of the miners, and an immediate cash uplift to them by releasing the £1.2 billion currently held in the Investment Reserve. This is – as Conor has since said publicly – an important key step for thousands of ex-miners in St Helens, Lancashire and Britain.

Alongside Stephanie Peacock MP, St Helens North Conor McGinn actually helped to coordinate a letter signed by over 50 coalfield MPs, which called on the Committee to undertake this particular inquiry.

He said: "This key report makes clear that thousands of ex-miners in St Helens Borough and the North West shamefully aren’t being given their fair share in retirement.

“For the Government to profit from miners’ hard-earned pensions in this way is a gross injustice.

"It’s why I’ve campaigned for a better deal for them and their families since I was elected.

“Today must be a wake-up call. The Government needs to commit to implement the recommendations fully, and finally deliver the fair pensions deserved by miners for their hard work and sacrifices."