Ex-mineworkers call on UK government to release pension reserves

Former Welsh mineworkers are urging the UK authorities to launch £2.3bn in reserves from their pension scheme so it may be paid out.

The federal government launched the equal cash from the Mineworkers Pension Scheme (MPS) within the funds in October, however the cash continues to be frozen for these within the different pension scheme, the British Coal Workers Superannuation Scheme (BCSSS).

Lindsey Hopkins, 75, is likely one of the greater than 3,000 former miners that might be affected and stated the federal government had “thrown us to the wolves” by not treating each schemes in the identical means.

The Division for Vitality and Web Zero stated it was to debate the matter with the Treasury.

Mr Hopkins began work on the Merthyr Vale colliery and continued within the trade till 2010 in personal mines after privatisation.

He retired at 60 on account of in poor health well being, with points together with chest and joint issues.

He stated he was “very bitter” that the BCSSS reserves had not been launched to pensioners.

“Coal, metal and iron put this nation the place it’s and take a look at us now – they’ve thrown us on the scrapheap,” he stated.

Mr Hopkins stated he felt successive governments had mistreated miners and their pensions.

“I’ve received no confidence within the authorities. Whichever authorities is in I’ve received no confidence. They have their claws on it and they are going to maintain it reasonably than give it to another person.

“It is not theirs it is ours.”

Beneath an settlement signed 30 years in the past, the federal government has been entitled to half the excess money in return for guaranteeing its worth, though no cash has been taken since 2015.

Earlier Labour manifestos have stated that the reserves of each MPS and BCSSS pensions can be launched, nevertheless the 2024 manifesto solely talked about MPS.

BCSSS pension trustee Bleddyn Hancock stated he believed it was an oversight, however one which urgently wanted to be corrected.

“That is one thing we really feel very strongly about,” he stated.

“We have earned this cash, we have needed to combat for the cash. We have suffered for it, we have bled for it and we have died for it.

“It is our cash and we would like the federal government to finish this injustice and return our cash to us.”

Mr Hancock stated the cash would enhance the pensions of these within the BCSSS scheme by about fifty per cent at a time when many are scuffling with the price of dwelling.

“We’re all outdated. We’re not saving for the long run. The wet day is right here now.”

Leslie Davies, 77, from Nixonville in Merthyr Vale stated he was seeing former colleagues dying, and motion wanted to be taken quickly, and fairness was wanted between the 2 pension schemes.

“I do not know why they have not carried out it as a result of all of us labored in the identical trade and it is time they sorted our pension out sooner reasonably than later,” he stated.

“We’re dying off as a bunch and there are males who won’t have this pension. I do not know the way lengthy it is going to take to have it and there will be just a few extra gone.”

Former miner Gareth Paine, 65, from Troedyrhiw stated he thought the federal government “hope we go away” however “on the finish of the day, all of us labored in the identical place and all of us took the identical dangers”.

BCSSS trustees lately met trade minister Sarah Jones, with Bleddyn Hancock saying it was a constructive assembly.

“She was very sympathetic, and I feel she’d love to do one thing about it, nevertheless the matter is now with the Treasury and we’re ready for his or her approval which I hope we’ll get, but it surely’s not a carried out deal, so the extra stress we placed on the federal government to finish this injustice the higher,” he stated.

The Division of Vitality Safety and Web Zero stated: “The British Coal Superannuation Scheme operates differently to the Mineworkers’ Pension Scheme, as agreed with the scheme trustees.

“Minister Jones lately met with the trustees of BCSSS and has dedicated to speaking to the Treasury about their proposals.”

“The federal government has taken no cash from the scheme’s surpluses since 2015. All of that surplus is used purely to fund future pensions.”