Former Nottinghamshire mineworkers to make “one last push” in pension fight at Labour Party conference
Former mineworkers and widows from across Nottinghamshire are set to descend on the Labour Party conference in Liverpool in a “one last push” effort to urge the government to share out a pension scheme surplus.
Mineworkers from across the region will gather at this year’s Labour Party conference at Monarchs Quay in Liverpool on Monday September 28.
Mick Newton worked at Thoresby Colliery for 15 years and has been campaigning for a fairer deal for the past decade said it was time for “one last push”.
He added: “We have good cause to believe that the outstanding issues of the Mineworkers Pension Injustice will be rectified in this years Autumn Budget. However it's important for Campaigners to continue the fight until we have official confirmation. Therefore we will once again be present at this years Labour Party Conference.
“After 11 years of campaigning we believe its important to press our claim for Pension Justice at every opportunity and up to the Autumn Budget.
“We have come along way since the days of standing behind petition stalls on the high streets of our former Mining towns and villages, across the UK Coalfields.
“With just weeks to go until the Budget it is crucial that we maintain a visual and vocal presence at this years Labour Party conference.”
Campaigners are pushing to amend the 50/50 surplus-sharing agreement, ensuring members receive the full benefit of surpluses.
In 1994, when British Coal was privatised, it was agreed the Government would get half of any surplus from the pot in return for guaranteeing the value of the pensions would not decrease.
Successive Governments have made £4.8bn from the deal over the last 30 years.
When both the The Mineworkers' Pension Scheme (MPS) and The British Coal Staff Superannuation Scheme (BCSS) schemes were set up, the government was keen that some money should be held in reserve to ensure there was enough cash to pay out to members.
However, far more reserve money was built up in both funds than ever needed and following years of campaigning government changes so far have led to more than £1 billion being transferred back to the MPS and more than £2 billion transferred back to the BCSSS.
The move comes after Chancellor Rachel Reeves announced in October last year that the entirety of the MPS investment reserve would be handed over to ex-coal miners and their families.