Miner welcomes pension release but urges speed
BBCA former miner has welcomed a move to end a decades-long battle over pension surplus.
They say they lost out when a deal was struck in 1994 when British Coal was privatised, meaning while the value of the fund would not decrease, the government was allowed to keep half of any investment surplus.
However, in his budget announcement Chancellor John Healey pledged that the 50-50 agreement would end and all surplus cash would be paid to pension holders.
Burt Moncur, who worked at Murton Colliery in County Durham, said it was "the best news" but urged pay-outs were made as quickly as possible as former miners were dying every day.
Former chancellor Rachel Reeves agreed in the last two budgets to release part of the fund and pay-outs from the two pension funds - the British Coal Staff Superannuation Scheme (BCSSS) and the Mineworkers' Pension Scheme (MPS) -have since been made.
However, campaigners have been calling for the full transfer of the remaining funds.
In his budget speech on Wednesday, Healy said some work had been done but the job was not finished.
He stated: "For ex-mineworkers, I'm guaranteeing that every penny of the pension fund surplus now goes to miners."
Moncur said it was "the best news" for the 3,500 relying on miners' and miners' widow pensions across north-east England.
He said: "We never lost that hope, all the way along we've fought on, we've fought on, we've had setback after setback, the length of the campaign.
"It's just like one of the best things that's ever happened to us really."
The BCSSS has warned it could be several months before members could see any increase from any surplus.
And the MPS noted there had been "no specific timetable" for the distribution of the surplus currently locked up in the scheme.
Moncur said with miners dying every day it was important pay-outs happened as soon as possible.
"We really need the money back now, more so to the most vulnerable, when you can't heat and eat - and sometimes that's your choices - so any extra that goes back into their pocket, it's massive."
