Mineworkers' Pension Scheme

(asked on 13th May 2019) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, how much funding the Government contributed to the Mineworkers' Pension Scheme prior to the privatisation of the scheme in 1994; when this money was paid in; and for what reason.


Answered by
Andrew Stephenson Portrait
Andrew Stephenson
This question was answered on 16th May 2019

The Government’s involvement in the Scheme began at privatisation. Until that point, the scheme was funded by member contributions and British Coal contributions. British Coal’s share of the surplus immediately prior to privatisation was allocated to the Scheme as the Investment Reserve, available to make good any deficit which should arise in the fund.

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