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Mineworkers' Pension Scheme

Question for Department for Business, Energy and Industrial Strategy

UIN 186222, tabled on 31 October 2018

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will publish the annual surpluses to Government from the Mineworkers Pension Fund in each year since 1994.

Answered on

12 November 2018

The sums the Government has received each year from its share of scheme surpluses are set out below. There were no receipts before 1998. Surplus shares are calculated at three-yearly valuations and paid in ten annual instalments. More information is available in a House of Commons Research Briefing. The Government guarantee has enabled an investment strategy that has resulted in scheme members receiving payments 33% higher than they would have been if they received only their actual earned pension up to privatisation.

Year[1]

Share of surplus (£m)

Year

Share of surplus (£m)

1998

113

2009

146

1999

113

2010

145

2000

113

2011

331

2001

196

2012

31

2002

196

2013

50

2003

196

2014

50

2004

175

2015

92.1

2005

175

2016

113.4

2006

175

2017

51

2007

327

2018

51

2008

146

2019

142.4

[1] MPS Scheme years run from 1 October to 30 September. Payments are generally made on 1 October.