Mineworkers' Pension Scheme

Department for Business, Energy and Industrial Strategy written question – answered on 17th October 2018.

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Photo of Grahame Morris Grahame Morris Labour, Easington

To ask the Secretary of State for Business, Energy and Industrial Strategy, for what reason the Government receives funding from the Mineworkers Pension Scheme while recipients have been advised of a deficit resulting in a reduced bonus.

Photo of Claire Perry Claire Perry The Minister of State, Department for Business, Energy and Industrial Strategy, Minister of State (Business, Energy and Industrial Strategy) (Energy and Clean Growth)

The Government guarantees any deficit from the Mineworkers Pension Scheme and in return receives a share of any surplus. Following the most recent valuation in July, a significant surplus in the scheme will ensure that scheme members will receive an additional bonus pension for each of the next six years.

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