Nearly 40,000 former mineworkers are seeing a significant increase of £100 per week in their pensions starting today. This boost amounts to a 41% rise and follows extensive efforts to unlock surplus funds in the British Coal Staff Superannuation Scheme (BCSSS) for its members.

The recent announcement was made after Chancellor Rachel Reeves revealed in the Budget that the government has transferred the £2.3 billion reserve, which had been held by the government since 1994, back to BCSSS members. In her Budget speech, Reeves stated that the investment reserve fund of the BCSSS would be transferred to ensure fair treatment for those who contributed to the coal industry.

In addition to the weekly increase, affected individuals will also receive a one-time lump sum of £5,500, retroactive to November 2024 when the Mineworkers’ Pension Scheme saw an adjustment.

The BCSSS scheme caters to former coal miners and individuals in various non-mining roles at collieries nationwide, including engineers, managers, canteen workers, and administrators. Approximately 40% of the around 40,000 BCSSS members are women. This move follows the government’s provision of £1.5 billion to members of the Mineworkers’ Pension Scheme last year.

Ed Miliband, Secretary of State for Energy and Net Zero, commended the mineworkers and advocates involved in rectifying this long-standing disparity. He acknowledged the significance of the pension increase, particularly ahead of the holiday season, in ensuring a deserving retirement for many.

Cheryl Agius, Chair of Trustees of the British Coal Staff Superannuation Scheme, expressed gratitude for the government’s decision to transfer the investment reserve to members. This initiative aligns BCSSS members with their peers in the Mineworkers’ Pension Scheme and signifies a pivotal moment for the scheme. Members’ support and advocacy played a crucial role in bringing this issue to the government’s attention over the past year.

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