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    The pensions paid to former miners and those preserved for those under pensionable age are not ones based on fund values.

    They are based on a defined benefit that is appropriately indexed each year according to law. The minimum until now being Limited Price Indexation of RPI or 5% whichever is the lower. That will change to CPI. I have not checked but this scheme as it was from a formerly nationalised scheme may well have had full RPI protection but I am not sure on that point.

    The key thing is that no-one has lost out regardless of any dodgy figures provided above. The defined benefit pensions are paid and will be paid.

    You might consider the £5bn a year taken by Brown from all pensions by taxing them from 1997. That impacts not at all on the miners because they have their defined benefit whereas my pension and that of millions who lack the luxury of defined benefits are a lot smaller because of that tax.

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