16 January 2025
Following further engagement with Members of Parliament, the Trustees understand that the decision to transfer the BCSSS investment reserve to members now sits with HM Treasury.
As a member of the Scheme, you may wish to write to Darren Jones MP, the Chief Secretary to the Treasury, copying in your own MP, asking for members of BCSSS to be treated equally to members of the Mineworkers’ Pension Scheme (MPS). This would mean:
- The £2.3bn BCSSS investment reserve being transferred to members as soon as possible, and
- The Government committing to review how any future surplus in the BCSSS is shared between members and the Government.
You may wish to highlight that quick action by the Government is vital to ensure as many BCSSS members benefit from the investment reserve transfer as possible.
This is a political matter – only the Government can change the Scheme’s rules. If you support the transfer of the BCSSS investment reserve to members the Government needs to hear your voice.
We'll continue to update members as soon as we have any new information to share.
What the Trustees have been doing
The BCSSS Trustees pressed for members to receive the same treatment as MPS members at the Coalfield MP Group meeting on 14 January. Speaking to MPs in attendance, the Trustees highlighted the clear similarities between BCSSS and MPS, reinforcing their position that BCSSS members deserve the same treatment recently granted to MPS members.
The meeting, chaired by Grahame Morris MP, follows several months of active engagement with MPs. Since November 2024, the Trustees have met with numerous MPs to discuss the Scheme, including Stephanie Peacock, Grahame Morris, Lee Anderson, Elaine Stewart, Steve Yemm, Allison Gardner, and the responsible Minister at the Department for Energy Security and Net Zero, Sarah Jones.
Planning for the engagement began in July. After writing to Sarah Jones in October, November and December, the Trustees wrote to over 70 MPs who have BCSSS members in their constituency. This letter provided background information on the Scheme and highlighted the many parallels between the BCSSS and the MPS.
We continue to arrange further meetings with interested MPs, and our outreach to date has helped to ensure that the issue is being raised at the highest levels in Parliament, including at the last two sessions of Prime Minister’s Questions.
