17 December 2025
The Minister for Industry, Chris McDonald MP, has written to all Scheme members about the transfer of the £2.3bn investment reserve.
In his letter, the Minister welcomes this significant step and thanks members for their contribution to the energy industry over many decades. He described the transfer as correcting "an historic injustice" and giving members "the pension that you deserve."
The Minister notes the transfer has enabled your new bonus pension, equal to 41% of your guaranteed pension. This bonus is backdated to November 2024, when the Mineworkers’ Pension Scheme members received their increase.
He also confirmed that the government will consider proposals from the Trustees for further changes to the Scheme. These changes could further enhance benefits ahead of the next Scheme valuation in 2027.