Barnsley is a town that was built on coal, and thousands of Barnsley men spent their entire working lives connected with the mining industry. Ever since I was first elected as the MP for Barnsley Central, I have always fought for the interests of miners and their families, and striven to give them a voice in Parliament.
As it stands, the ‘surplus sharing’ arrangements of the Mineworkers’ Pension Scheme (MPS) are deeply unfair – as all surpluses are shared 50/50 between the Scheme’s members and the Government, who provide a guarantee for the Scheme.
However, given that the Government have never been required to pay into the Scheme, this has meant that surpluses that should have been shared between retired miners have instead been paid to the Government. Instead, I believe that we need to reform the surplus sharing arrangements to better reflect the relationship between the MPS and the Government.
It is very important that the MPS delivers the best possible outcome for its members.
Key milestones
- July 2017: Signed Early Day Motion 235 calling on the Government to enter into open and fair negotiations with the MPS Trustees.
- October 2017: Asked a question in Parliament about whether the Government planned to review the surplus sharing arrangements.
- June 2018: Met with the National Union of Mineworkers (NUM); Trustees of the MPS; and fellow coalfield MPs to discuss how we can lobby the Government to change the surplus sharing scheme.
Next steps
I will continue to work with the Trustees of the MPS, the NUM and my fellow coalfield MPs to lobby the Government on introducing a fairer surplus sharing scheme for retired miners and their families. It is unacceptable that the Government have continued to reap the benefits of a 50% share of surpluses, without needing to invest into it. I will fight for a fairer Scheme that benefits my constituents and provides them with financial security in retirement.
I am pleased that the next Labour Government will review the MPS surplus sharing arrangements to ensure a better deal for miners.