Almost 40,000 retired miners are set to receive a significant pension increase of £100 per week starting today. This boost, amounting to a 41% rise, follows extensive efforts to unlock surplus funds in the British Coal Staff Superannuation Scheme (BCSSS) for its members.
The development comes after Chancellor Rachel Reeves revealed in the Budget that the government has transferred the £2.3 billion reserve, previously held since 1994, back to BCSSS members. In her Budget speech, Reeves emphasized the commitment to ensuring fair treatment for those who contributed to the coal industry.
Alongside 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 adjustment took effect.
The BCSSS scheme represents ex-coal miners and individuals who served non-mining roles at various collieries throughout the UK, including engineers, managers, canteen staff, and administrators. Among the roughly 40,000 BCSSS members, approximately 40% are women. This move follows a similar transfer of £1.5 billion to Mineworkers’ Pension Scheme members in the previous year.
Secretary of State for Energy and Net Zero, Ed Miliband, commended the efforts of miners and advocates in rectifying this long-standing issue, expressing satisfaction that many retirees will benefit from the pension increase just before Christmas.
Cheryl Agius, Chair of Trustees of the British Coal Staff Superannuation Scheme, hailed the milestone as a result of persistent advocacy and collaboration. She noted the alignment of BCSSS members with their peers in the Mineworkers’ Pension Scheme and thanked members for their unwavering support in addressing the matter.
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