Allied Steel and Wire workers’ pensions

Motion Text

That this House recognises the 22 year injustice experienced by Allied Steel and Wire (ASW) workers in relation to their pensions; notes that around 1000 ASW pensions were lost in 2002 despite decades of contributions because their employer went bankrupt; acknowledges that despite having paid for 100% of their pensions, ASW workers were only promised 90% of their value by the UK Government; further notes that the Government’s financial assistance scheme fails to protect money paid in before April 1997 from inflation, allowing their value to further erode over time; is concerned that some ASW workers are only receiving half of what is owed to them; welcomes retrospective action beginning to finally right the wrongs of the Horizon Post Office scandal; and calls for the UK Government to similarly address this injustice experienced by ASW pensioners without delay.