The Labour Party manifesto published today included the following wording regarding MPS:
“Labour will end the injustice of the Mineworkers' Pension Scheme. We will review the unfair surplus arrangements and transfer the Investment Reserve Fund back to members, so that the mineworkers who powered our country receive a fairer pension.”
This reflects the recommendations of the Select Committee in 2021. The Trustees of MPS have been engaged on this and, since 2021, have continued to fully support the recommendations. We are, therefore, pleased to see this statement in the Labour Party manifesto.
We are similarly pleased that Plaid Cymru have included MPS in their manifesto as follows:
"The legacy of mining is also felt in the ongoing injustice faced by former miners whose pensions are benefiting the coffers of the Treasury, whilst some former miners live on only £10 a week. Plaid Cymru demands that the UK Government should relinquish its entitlement to the pension scheme’s investment reserve, and that they should transfer the billions already taken from the miners back to those former workers and their families. The UK Government must commit to implementing the BEIS inquiry’s own recommendations into the Mineworkers’ Pension Scheme."
Reform UK have included MPS in their contract as follows:
“We accept the Business, Energy and Industrial Strategy Committee 2021 recommendations in full to amend the Mineworkers Pension Scheme arrangements so that all the scheme surpluses accrue to the Mineworkers.”