Almost 40,000 retired miners are set to enjoy a £100 weekly increase in their pensions, effective immediately. This significant 41% rise follows extensive advocacy for surplus funds in the British Coal Staff Superannuation Scheme (BCSSS) to be distributed among its members.
The development was announced today after Chancellor Rachel Reeves disclosed in the Budget that the government has transferred the long-held £2.3 billion reserve back to BCSSS members. In her Budget speech, Reeves committed to ensuring fair treatment for those who dedicated their careers to the coal industry.
In addition to the weekly boost, eligible individuals will also receive a one-time payment of £5,500, retroactive to November 2024 when the Mineworkers’ Pension Scheme saw an increase.
The BCSSS scheme caters to former coal miners and individuals in various non-mining positions at collieries nationwide, including engineers, managers, canteen staff, and administrators. Approximately 40% of the scheme’s 40,000 members are women. Last year, the government allocated £1.5 billion to members of the Mineworkers’ Pension Scheme.
Secretary of State for Energy and Net Zero, Ed Miliband, praised the efforts of mineworkers and advocates in rectifying this long-standing injustice, emphasizing the timely boost to pension payments ahead of the holiday season.
Cheryl Agius, Chair of Trustees of the British Coal Staff Superannuation Scheme, hailed the transfer of the investment reserve to members as a historic milestone, achieved through persistent efforts and cooperation. This move aligns BCSSS members with their counterparts in the Mineworkers’ Pension Scheme, ensuring parity in benefits. The Trustees expressed gratitude to members for their instrumental role in raising awareness and garnering government support over the past year.
