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

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will enter into negotiations with the Mineworkers Pension Scheme Trustees to discuss the current surplus sharing arrangements.

The existing surplus-sharing arrangements have worked well to date for the Scheme’s members. The presence of the Government guarantee has enabled the Scheme Trustees to invest so as to target surpluses, which has resulted in a 30% increase in payments to members. The Department cannot unilaterally amend the terms of the scheme, though we would be willing to consider any proposals put forward by the Scheme Trustees.