Pensions boost for Ayrshire's former mineworkers following UK budget

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Former mineworkers across Ayrshire are set to receive a boost to their pensions following yesterday’s (Wednesday, October 30) UK Government Budget.

Chancellor Rachel Reeves confirmed injustices in mineworkers pensions would be rectified during her speech in the House of Commons.

Ayr, Carrick and Cumnock MP Elaine Stewart, who had previously raised the issue with the Chancellor, welcomed the announcement as a “huge victory for mineworkers”.

Around 112,000 former mineworkers are now in line for an extra £29 per week as part of their pensions.

In her speech at the dispatch box, Ms Reeves confirmed that the government will transfer the Investment Reserve Fund in the Mineworkers’ Pension Scheme to the scheme’s Trustees.

This will be paid out as an additional pension to members of the scheme. The government will also take forward a review of the existing surplus sharing arrangements.

Ms Stewart, who is also vice-chair of the Labour Coalfields group, used her first question as an MP to highlight the issue and wrote to the Chancellor in October.

During her Budget speech, Ms Reeves said: “It is right that we protect those who have worked all their lives.

“In the manifesto, we promised to transfer the Investment Reserve Fund of the Mineworkers Pensions Scheme to Members.

“And I have listened closely to my Honourable Friends, the Members for Easington, for Doncaster Central, for Blaenau Gwent and Rhymney and for Ayr, Carrick, and Cumnock on this issue. Today we are keeping our promise so that working people who powered our country receive the pay of fair pension they are owed.”

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Commenting, Ms Stewart said: “This week’s Budget announcement is a huge victory for mineworkers. I was immensely proud to stand on a manifesto that ended the injustice of the Mineworkers' Pension Scheme so that the people who powered our country receive a fairer pension.

“This injustice has been a source of frustration and angst to these pensioners for far too long, many of whom live in coalfield areas like Ayr, Carrick and Cumnock.

“Many former mineworkers have chronic health issues directly related to their former job, and sadly their numbers are also decreasing year by year.

“I wrote to the Chancellor two weeks ago to urge the Treasury to amend the Mineworkers Pension Scheme arrangements as part of the Budget and bring about the transfer of the Investment Reserve.

“In this government, I am delighted that we have a Chancellor that listens to colleagues and a government committed to ending injustice and delivering a fair budget.”

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