Almost 40,000 former mineworkers are set to enjoy a pension increase of £100 per week, beginning today. This boost represents a 41% rise and follows a prolonged push for surplus funds in the British Coal Staff Superannuation Scheme (BCSSS) to be distributed to members.
The development comes on the heels of Chancellor Rachel Reeves’ announcement during the Budget that the government has transferred the £2.3 billion reserve, previously held since 1994, back to BCSSS beneficiaries. In her Budget speech, Reeves emphasized the importance of ensuring fair treatment for those who dedicated their careers to the coal industry.
Affected individuals will also receive a one-time lump sum of £5,500 today, retroactive to November 2024 when the Mineworkers’ Pension Scheme saw an increase.
The BCSSS scheme covers not only former coal miners but also individuals who held various roles at collieries nationwide, such as engineers, managers, canteen workers, and administrators. Around 40% of the nearly 40,000 BCSSS members are women. Notably, this move follows a £1.5 billion transfer to Mineworkers’ Pension Scheme participants last year.
Secretary of State for Energy and Net Zero, Ed Miliband, lauded the resolution of this long-standing issue, acknowledging the efforts of mineworkers and campaigners. The pension hike, occurring just before Christmas, is seen as a well-deserved reward for retirees.
Cheryl Agius, Chair of Trustees of the British Coal Staff Superannuation Scheme, described the moment as historic, achieved through persistence, advocacy, and collaboration. She commended the government for heeding the call to transfer the investment reserve to members, aligning BCSSS beneficiaries with their counterparts in the Mineworkers’ Pension Scheme.
Members’ involvement in raising awareness and lobbying efforts was pivotal in driving this positive outcome, with gratitude extended by the Trustees for their unwavering support.