Nearly 18,000 Yorkshire miners handed pension boost in landmark payout

Danielle Andrews & Elizabeth Mackley

30 November 2024 at 2:27 pm·2-min read

An aerial view of Barnsley, one of the towns where locals took part in a focus group — -Credit: (Image: Neil Mitchell/Shutterstock)

Nearly 18,000 former miners in South Yorkshire have seen a substantial increase to their pensions as part of a landmark payout.

The pension enhancement, which is part of a wider £1.5 billion transfer to the Mineworkers' Pension Scheme, will impact approximately 112,000 ex-miners and their dependants across the UK. This decision comes after years of advocacy by former pit workers and their families seeking fairer payouts for those who contributed to the country's energy production over many decades.

The uplift signifies an average increase of 32 per cent in the annual pensions for eligible members, offering much-needed financial assistance to former miners and their families.

The pension scheme had been under-resourced for years, with the government taking half of any surplus produced by the scheme following the privatisation of British Coal in 1994. The new agreement sees this surplus being returned to the miners ahead of schedule, ensuring they will receive the benefits they were initially promised.

The government's move follows a meeting between Energy Secretary Ed Miliband, Minister for Industry Sarah Jones, and members of the scheme at the National Union of Mineworkers' headquarters in Barnsley, where they discussed the long-anticipated transfer of the investment reserve.

The trustees of the Mineworkers' Pension Scheme have announced: "This month marks a historic milestone for the members of our scheme with the first instalment of pension resulting from the recent Investment Reserve transfer being paid. As trustees, we're delighted that we've been able to get this extra money into our members' pockets so quickly."

"This has been made possible due to the swift action of the Government in making good on its manifesto commitment but also as a result of the hard work of the team that supports the scheme."

"We are now looking forward to discussing our scheme's surplus sharing arrangements with the Government in the coming months and sharing the outcome with our members as soon as we can."

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