British Coal Staff Superannuation Scheme Debate
Full Debate: Read Full DebateAlan Gemmell
Main Page: Alan Gemmell (Labour - Central Ayrshire)Department Debates - View all Alan Gemmell's debates with the Department for Business and Trade
(3 days, 15 hours ago)
Commons ChamberI will make some progress. It is worth remembering that when the last member of the MPS dies, the billions of pounds in the fund go straight to the Treasury and the Government of the day, and they can spend that money on whatever they like.
I want to put it on the record that we have seen a transformative intervention by this Labour Government on the mineworkers’ pension scheme, and over 100,000 former mineworkers already received their first pension increase in November last year. I wonder whether the hon. Member might want to congratulate the Government on that innovation.
If the hon. Member shows a little patience, he will hear me move on to that later.
The previous Labour manifesto stated that the reserve funds of both the MPS and the BCSSS would be released to members, yet the BCSSS was omitted from Labour’s manifesto in 2024. Maybe the Minister can explain why that was. She may be aware—obviously the hon. Member for Mansfield (Steve Yemm) is not aware of this—that during the last Parliament, I continually pressed the Government for a fairer deal on the MPS, and I was knocked back at every single opportunity. Credit where credit is due, this Labour Government have stuck by their word, and the members of the mineworkers’ pension scheme are a lot better off under this Labour Government due to the extra money in their pay packet.