Almost 40,000 former mineworkers are set to receive a significant increase of £100 per week in their pensions, starting today. This boost represents a 41% rise and follows extensive efforts to secure surplus funds from the British Coal Staff Superannuation Scheme (BCSSS) for its members.
The announcement was made following Chancellor Rachel Reeves’ declaration in the Budget that the government would transfer the £2.3 billion reserve, held by the government since 1994, back to BCSSS members. In her Budget speech, Reeves stated that the investment reserve fund of BCSSS would be given to its members to ensure fairness for those who contributed to the coal industry.
Affected individuals will also receive a one-time lump sum payment of £5,500 today, retroactive to November 2024 when the Mineworkers’ Pension Scheme saw an increase.
The BCSSS scheme caters to former coal miners and individuals in non-mining roles at collieries nationwide, including engineers, managers, canteen workers, and administrators. Of the approximately 40,000 BCSSS members, around 40% are women. This development follows the government’s prior transfer of £1.5 billion to members of the Mineworkers’ Pension Scheme.
Secretary of State for Energy and Net Zero, Ed Miliband, commended the efforts of mineworkers and campaigners in rectifying this long-standing issue. He emphasized that the pension uplift of 41% would provide deserving retirees with financial security just before Christmas.
Cheryl Agius, Chair of Trustees of the British Coal Staff Superannuation Scheme, described this as a historic moment achieved through determination and collaboration. She acknowledged the government’s responsiveness to the Trustees, Scheme members, and supportive Coalfield MPs, leading to the transfer of the investment reserve to members. The bonus pension increase aligns BCSSS members with their counterparts in the Mineworkers’ Pension Scheme.
Members’ advocacy played a crucial role in raising the matter with the government, and the Trustees expressed gratitude for their support over the past year.