Over 100,000 former mineworkers across the UK will today get a
boost to their pension – with people seeing an average £29 extra
to their weekly payment.
The payment follows the government's reversal of an historic
injustice, leading to £1.5billion being transferred to their
pension scheme last month.
Former mineworkers will receive the cash in their pockets today,
ensuring former pit workers who powered the country for decades
finally get the just rewards from their labour.
The uplift represents an average 32 per cent rise to the annual
pensions of nearly 112,000 former mineworkers and their
dependents across the UK – an average increase of £29 per week
for each member.
Secretary of State for Energy said:
This government has kept our promise to return money rightfully
owned to the ex-miners and their families- and today thousands of
people will receive the money they deserve in their pension as a
result.
Today marks an end to a decades-long injustice that has denied
thousands across the country the decent pension that they so
undeniably deserve.
We have delivered on our promise to right this wrong and I hope
members and their families are able to enjoy the victory that
they have waited far too long for.
The Trustees of the Mineworker' Pension Scheme, said:
This month marks a historic milestone for the members of our
Scheme with the first instalment of pension resulting from the
recent Investment Reserve transfer being paid. As Trustees,
we're delighted that we've been able to get this extra money into
our members' pockets so quickly.
This has been made possible due to the swift action of the
government in making good on its manifesto commitment but also as
a result of the hard work of the team that supports the
Scheme.
We would also like to thank again the many members and MPs who
have shown support of the Scheme on this matter over the
years. We are now looking forward to discussing our
Scheme's surplus sharing arrangements with the government in the
coming months and sharing the outcome with our members as soon as
we can.
The Energy Secretary and Minister for Industry met members and trustees of the
scheme in October at the National Union of Mineworkers'
headquarters in Barnsley, after the government delivered on a
longstanding campaign ask from ex-pit workers to transfer the
investment reserve of the Mineworkers' Pension Scheme back to
members.
When British Coal was privatised in 1994, the government agreed
to take half of any surplus generated by the pension scheme, in
return for a guarantee that pensions would increase in line with
inflation.
The investment reserve fund was set up using profits from the
scheme in 1992, to provide a buffer in case the Mineworkers'
Pension Scheme went into deficit. This money was due to be
returned to government in 2029.
The government is now conducting a review of the surplus sharing
agreement with the scheme trustees – ensuring miners and their
families benefit for years ahead, with next steps to be set out
in the coming months.
After delivering on the commitment for the Mineworkers' Pension
Scheme, the largest pension scheme for miners in the UK, the
government has committed to review any proposals set out by the
Trustees of the British Coal Staff Superannuation Scheme – the
pensions scheme for former pit managers, which is run on a
different basis as the government takes no money from any
surpluses.
In keeping homes warm and powering industry, mineworkers were the
backbone of keeping the country going for decades.
Since July, the government has accelerated Britain's transition,
committing unprecedented investment in homegrown clean energy. To
support workers, the government has also set up the Office for
Clean Energy Jobs to help the next generation of skilled workers
to access UK-wide job opportunities that the government's clean
energy superpower mission will help create.
Action includes lifting the ban on onshore wind, setting up Great
British Energy and announcing a partnership with The Crown Estate
to accelerate offshore wind projects, approving four major solar
farms, launching the Clean Energy Mission Control centre led by
Chris Stark, securing a record pipeline of renewable projects in
the latest auction and launching the UK's first carbon capture
sites.
Notes to editors
Members receiving an uplift in payments across UK regions:
Total: 111,394
