Easter Adjournment

Josh Newbury Excerpts

Tuesday 8th April 2025 Commons Chamber

[Josh Newbury (Cannock Chase) (Lab)]

It is a pleasure to speak in this Easter Adjournment debate, and I wish everyone a happy Easter and a restful break.

I rise to speak about the British Coal staff superannuation scheme and the need for the scheme’s investment reserve to be returned to its investors as soon as possible. In Cannock Chase, we are rightly proud of our rich mining heritage. That legacy has shaped our communities with generations of hard-working men and women who dedicated their lives to the industry that defined our area for seven centuries.

Following privatisation, many British Coal employees were part of either the mineworkers’ pension scheme or the British Coal staff superannuation scheme. I commend the Government for delivering the long-overdue justice for MPS members in the first Labour Budget for 15 years, transferring the £1.5 billion investment reserve. I have spoken to some of the 1,400 MPS members in my constituency since the Government kept their manifesto promise, and they are very grateful for the 32% boost to their pension. However, that has led to members of the BCSSS calling for similar action to be taken on their pension scheme. There are 530 members and dependents of the BCSSS in my constituency, who, like their MPS counterparts, do not receive substantial pensions. Also like the MPS, the BCSSS has returned billions to the Treasury—more than enough to guarantee the scheme for its life. Surplus sharing was ended after an agreement between the trustees and the Government of the day and since then all surpluses are due to go to the Treasury. However, the fundamentals are the same with a substantial investment reserve, which could boost members’ pensions and dependents’ incomes.

Very sadly, this is an urgent matter. Last year, more than 2,400 members of the BCSSS passed away, so it is not hard to see why so many members fear that they will not be able to see this money in their lifetimes. These pensioners dedicated their working lives to powering our country, and it is vital that they receive the thanks that such a demanding and important role requires.

This is a particular passion of those of us representing coalfield constituents, where the vast majority of the 45,000 BCSSS members live. I wish to pay tribute to many hon. Members for their steadfast campaigning on this matter. We know that, just as it has for the MPS, a return of the BCSSS investment reserve would provide a welcome boost for businesses in our communities, which have been hammered harder than most in recent years. I hope that, in the very near future, we can secure an agreement with the BCSSS trustees, who also deserve credit for their work on this and for fostering a transparent and positive relationship with the members that they serve. Transferring the final £2.3 billion payment from the reserve will ensure fairer pensions for everyone who contributed to the coal industry, whether that be underground, in the offices or in the canteens.

It is also worth flagging the gender inequality angle because, unlike the MPS, a large proportion of BCSSS members are women as it was the default pension scheme for clerical and catering staff, who do not always get the recognition that they deserve for the huge contribution they made to such a critical industry. Reflecting the shameful reality faced by women for decades, many were paid significantly less than their male colleagues and now they are campaigning hard for some restitution for that historic injustice with the return of their scheme’s investment reserve.

I fully understand that the issue is not as simple as duplicating what has been done for the MPS, given that the schemes were set up differently, and I pay tribute to the work of the Minister of State for Industry, who has confirmed that BCSSS proposals will be considered. Having raised this matter today, I hope that an agreement can be reached in a timely manner. Given that we are losing an average of six BCSSS members every day, the sooner we can get this done, the more members of our community can see and feel justice.