Almost 40,000 former miners are set to receive an additional £100 per week in their pensions starting today, marking a significant 41% increase. This development follows extensive advocacy efforts to release surplus funds from the British Coal Staff Superannuation Scheme (BCSSS) to its members.
The announcement, made in the Budget by Chancellor Rachel Reeves, revealed that the government has transferred a £2.3 billion reserve, previously held since 1994, back to BCSSS beneficiaries. As part of this initiative, eligible individuals will also receive a one-time lump sum of £5,500, retroactive to November 2024 when enhancements were made to the Mineworkers’ Pension Scheme.
The BCSSS scheme encompasses former coal miners and individuals who held various roles at collieries, such as engineers, managers, canteen workers, and administrators. Approximately 40% of the scheme’s nearly 40,000 members are women. This move follows a similar action last year when the government allocated £1.5 billion to participants 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 boost, just before Christmas, will provide deserving retirees with the financial support they need.
Cheryl Agius, Chair of Trustees of the British Coal Staff Superannuation Scheme, described this development as historic, attributing it to a year of perseverance, advocacy, and cooperation. She highlighted the alignment of BCSSS members with their counterparts in the Mineworkers’ Pension Scheme, thanks to the transfer of the investment reserve. The collaboration between trustees, members, and supportive MPs played a crucial role in bringing about this positive change.