To ask the Secretary of State for Energy Security and Net Zero, if he will make an assessment of the potential merits of (a) returning the Mineworkers' Pension Scheme investment reserve to scheme members and (b) commissioning a review into future investment reserve surplus sharing arrangements.
Answered on
4 November 2024
The Government has ended the injustice of the Mineworkers’ Pension Scheme (MPS) and agreed the transfer the Investment Reserve Fund to members, so that the mineworkers who powered our country receive a fairer pension.
The resulting bonus will increase pensions by 32% and should start to be paid in November. The Government will soon start talks with the MPS Trustees on the future arrangements for surplus sharing.