Oral Answers to Questions

Jake Richards Excerpts

Tuesday 18th March 2025 Commons Chamber

[Nick Smith (Blaenau Gwent and Rhymney) (Lab)]

3. What assessment he has made of the potential impact of changes to the mineworkers’ pension scheme on the living standards of the recipients of that pension.

[Jake Richards (Rother Valley) (Lab)]

5. What assessment he has made of the potential impact of changes to the mineworkers’ pension scheme on the living standards of the recipients of that pension.

--- Later in debate ---

[Sarah Jones]

I thank my hon. Friend for his remarks; he is right to talk about the British Coal staff superannuation scheme. The initial focus of our work was on the mineworkers’ pension scheme, which was in our manifesto. We had to work at pace on that commitment, and we are working with the Government Actuary’s Department on how the surplus-sharing arrangement will work going forward. That big piece of work is under way, but my hon. Friend is right to point to the tens of thousands of people who are in the BCSSS. I too have met the trustees, and we are working as fast as we can through the issues associated with that scheme. The two schemes are different—they operate in different ways—but the Government are the guarantor for both of them, and I will reconvene trustees to continue discussions with them and take this matter forward.

[Jake Richards]

At the last general election, I made a promise to ex-miners in my constituency that a Labour Government would deliver justice on the MPS investment reserve fund and return it to its members. I am delighted that at the end of last year, this Government delivered, providing a boost of more than 32% to their pensions. However, in my constituency there are more than 600 BCSSS members, who are still really concerned about this issue, so I would welcome the Minister’s answer on that. Can she reassure them and me that the trustees will continue to update the members of that scheme? At the moment, there is a degree of uncertainty on what progress can be made over the coming months.

[Sarah Jones]

I thank my hon. Friend for his concern for his constituents who are in the BCSSS. I am very receptive to the calls from BCSSS trustees. I wrote to the Chief Secretary to the Treasury at the end of last year to begin discussions. We have received a positive response from him, and we are now taking the next steps to move this process forward.