A COALWORKERS’ pension scheme which ministers claimed was pillaged by previous governments could be the latest to have cash returned to its members - after two Barnsley MPs vowed to give miners a louder voice.
Stephanie Peacock and Dan Jarvis, who represent Barnsley South and Barnsley North constituencies respectively, recently held a meeting for members of the British Coal Staff Superannuation Scheme (BCSSS).
The meeting was held to to hear the concerns that members of the scheme who live in the area have, and discuss what action the MPs could take to support the members.
Following this, Ms Peacock and Mr Jarvis attended a meeting for MPs representing coalfield areas in Parliament to speak directly to the chief secretary to the Treasury, James Murray MP, about the BCSSS.
The BCSSS has more than 1,700 members in Barnsley and more than 100 turned up at the meeting to have their say on long-held promises to give them a pension uplift.
Previous governments are estimated to have taken more than £3bn in dividends from the scheme, although £2.3bn remains tied up in a so-called ‘investment reserve’.
Miners want the cash to be released following their successful campaign with a parallel pension pot - known as the Minerworkers’ Pension Scheme (MPS) - which was released by Labour.
Stephanie told the Chronicle: “I was pleased to meet with members of the BCSSS in Barnsley alongside Dan.
“There are over 1,700 members of the BCSSS across Barnsley and over 100 people attended the meeting.
“This was an opportunity to hear directly from members of the scheme and answer their questions.
“We were joined by the trustees who I have met on a number of occasions before.
“Throughout the past year, I have met and spoken with ministers about this subject.
“I was pleased to join the meeting for coalfield MPs about the BCSSS in Parliament with James.
“This was an opportunity to share the concerns that BCSSS members in Barnsley raised with us.”
Under the agreement made when British Coal was privatised in 1994, a Crown guarantee was given to the two pension schemes under which, as well as having to fill any potential deficit, the Treasury gets half of the surplus.
Previous governments have justified not sharing the reserve by saying it was only accumulated thanks to the Crown guarantee.
Dan added: “I’m heartened that so many people attended our local BCSSS meeting with Stephanie, myself and the scheme trustees.
“Barnsley has a proud mining heritage, and we know that this issue matters deeply to many here.
“That’s why Stephanie and I have fed back the views of scheme members to the chief secretary to the Treasury.
“We’re absolutely committed to continuing these discussions to ensure Barnsley voices are heard.”