Mineworkers’ Pension Scheme

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Contents

Summary

1 Introduction

Our inquiry

2 Mineworkers’ Pension Scheme

History of the Scheme

What preceded the 1994 arrangements?

How the 1994 agreement was reached

Has the Government received more than expected?

3 Fairness of the current terms

Views of pension members

The Government’s approach

Higher investment returns for members

Risk to Government

Perceptions of fairness at the time

Gains to the public purse

4 Changing the terms of the 1994 agreement

Changing the surplus split

Distributing the Investment Reserve

5 Conclusion

Conclusions and recommendations

Formal minutes

Witnesses

Published written evidence

List of Reports from the Committee during the current Parliament