Member

Over the two decades that have elapsed since the Allied Steel and Wire workers discovered that they were in danger of losing the full value of their pensions—for which they had worked for decades, as the noble Lord, Lord Hain, will recall—there has been a campaign run by them and others to try to get justice for them. Some assistance has been provided, as described by the noble Baroness, Lady Altmann, and by the noble Lord, Lord Hain, who facilitated it. That was substantial and very much worth having. However, the plight of those dependent partly on pre-1997 pension benefits has still not been adequately addressed. They lost out on the value of a pension for which they had worked for years. This happened to very many at an age when it just was not possible to recoup the full value of those lost entitlements.