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‘Historic injustice’ overturned as government hands over £1.5bn to 112,000 ex-miners' pensions
Miners leave Wistow Mine, Yorkshire, for the last time as it ceases production, May 13 2004
MORE than 100,000 former mineworkers will receive £1.5 billion of money kept from their pensions following the privatisation of British Coal in 1994.
Chancellor Rachel Reeves announced on Wednesday that the government will overturn a “historic injustice” by relinquishing any claim on the Mineworkers Pension Scheme (MPS) Investment Reserve Fund.
This means a 32 per cent increase to the annual pensions of 112,000 former mineworkers, an average increase of £29 per week for each member.
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