A SECOND coalworkers’ pension scheme which ministers claimed was pillaged by previous governments could be the latest to have cash returned to its members - after the government confirmed ministers are probing its arrangements.
Stephanie Peacock, MP for Barnsley South, met with Minister Sarah Jones regarding the British Coal Staff Superannuation Scheme (BCSSS).
It follows on from the meeting Ms Peacock held with BCSSS trustees last month after constituents made contact with concerns that their pot also should be looked at given the ‘injustices’ with the Mineworkers’ Pension Scheme (MPS).
Following years of campaigning, Labour delivered justice on the MPS earlier this year by returning the £1bn investment reserve fund to members.
Eligible ex-miners received an immediate uplift to their pensions, with increased payments worth an average of £29 a week starting at the end of last month.
Minister Jones confirmed that she had also met the BCSSS trustees this week and has committed to talking to the Treasury about their proposals.
The MPS has about 120,000 pensioner and deferred members, while the BCSSS has roughly 41,000.
Stephanie told the Chronicle: “I am delighted to have met with Minister Jones to discuss the BCSSS.
“I know many local people have concerns about the scheme, particularly in light of similarities to the Mineworkers’ Pension Scheme which I was proud to deliver justice on earlier this year.
“I am pleased that the minister has confirmed to take these concerns, and proposals from the BCSSS trustees on reform, to the Treasury.
Previous governments are believed to have taken £4.8bn out of the MPS fund, and £3.2bn out of BCSSS, so therefore those on that scheme were also owed money.
At the time, a spokesperson for the Department for Energy gave no indication that any future changes would take place and said the government ‘must consider the two schemes separately’.
But the department has now announced it would review any proposals set out by the trustees of the BCSSS.
Both schemes were taken over by the government when British Coal was privatised in 1994.
A BCSSS spokesperson added: “On October 31, the day after it was announced that the Mineworkers’ Pension Scheme investment reserve had been transferred to its members, our trustees wrote to Sarah Jones.
“We asked that members of BCSSS be treated equally to members of MPS.
“The Trustees met with Sarah on December 16 to discuss this, stressing the similarities between MPS and BCSSS and their memberships.
“Sarah agreed to raise the equal treatment of BCSSS members with the relevant parts of government and to update the trustees in the new year.
“We believe that this is a positive step and we know how important this subject is to members.”
