Former Mineworkers Celebrate Historic £100 a Week UK Pensions Boost
Around 40,000 people with non-mining roles at collieries, including more than 5,000 women, will receive a 41% uplift in guaranteed pension payments, which amounts to about £100 per week.
Lump sums averaging £5,500 will also be paid, backdated to when the government ended the arrangement that allowed it to take half the scheme’s surplus.
The government transferred £2.3bn from its reserve fund to the British Coal Staff Superannuation Scheme to facilitate these changes.
These reforms bring the British Coal Staff Superannuation Scheme payouts in line with those of other former public sector workers.
Similar adjustments were implemented last year to the Mineworkers’ Pension Scheme, which has approximately 100,000 members.
The Autumn Budget 2024 announced the end to the decades-long surplus-taking from pensions, addressing a long-standing injustice.
Ed Miliband welcomed the outcome, while MPs and trustees called for clarity on future surplus-sharing arrangements.
