🎉 Big Pension Scandal in Wales: Call for Justice! 🎉
It’s been a long and tough road for former steelworkers from Cardiff’s Allied Steel and Wire (ASW), but the fight for their pensions isn’t over. These hard-working folks watched their plant go under back in 2002, leaving almost 900 of them facing massive pension cuts—down a staggering 85%! 😱
Fast forward to 2007, and they finally got a bit of help with a 90% compensation deal from the Financial Assistance Scheme. But here’s the catch: without inflation protection, that deal’s value has been eaten away over the years. So, while it might have seemed like a win, many like John Benson are left with just a portion of what they rightfully earned. He’s been vocal, sharing how his actual pension is far less than what he was expected to get. 📉💰
In a recent twist, Chancellor Rachel Reeves announced plans for inflation-linked rises starting in January 2027, providing a glimmer of hope. But for the ASW pensioners, who have been waiting for these adjustments for 23 years, it’s been too little too late. 😤
The heat is on the UK Labour Government, who’ve addressed other pension issues, but left the ASW scandal unresolved. However, a spark of optimism came when First Minister Eluned Morgan stated in the Senedd that this injustice needs sorting. 📢
Meanwhile, Finance Minister Mark Drakeford is pushing hard for change, writing to the Chancellor and pensions minister to fix what’s broken. He’s highlighting how, despite reassurances at the time, the ASW pension scheme collapsed, leading to severe financial strife for many. 📨
The call is loud and clear: it’s time the UK Government acts to correct this long-standing pension grievance for the ASW workers who deserve better. 🛠️💪
#PensionScandal #JusticeForASW #WalesDeservesBetter #MovingForwardTogether