Ex-mineworkers call on UK government to release pension reserves

Under an agreement signed 30 years ago, the government has been entitled to half the surplus cash in return for guaranteeing its value, although no money has been taken since 2015.

Previous Labour manifestos have said that the reserves of both MPS and BCSSS pensions would be released, however the 2024 manifesto only mentioned MPS.

BCSSS pension trustee Bleddyn Hancock said he believed it was an oversight, but one which urgently needed to be corrected.

“This is something we feel very strongly about,” he said.

“We’ve earned this money, we’ve had to fight for the money. We’ve suffered for it, we’ve bled for it and we’ve died for it.

“It’s our money and we want the government to end this injustice and return our money to us.”

Mr Hancock said the money would increase the pensions of those in the BCSSS scheme by about fifty per cent at a time when many are struggling with the cost of living.

“We’re all old. We’re not saving for the future. The rainy day is here now.”