British Coal Staff Superannuation Scheme
The question
To ask the Secretary of State for Energy Security and Net Zero, if he will publish a timeline for the transfer of the £2.3bn investment reserve to BCSSS members.
Answered by Chris McDonald
The Chancellor announced in the budget the transfer of the full reserve of £2.3bn which will increase member incomes by 41%. The transfer has been completed and the required amendments to the scheme rules agreed and signed.
Implementation is a matter for the Trustees but we understand they have put processes in place so that the first payments will be made on 23 December.
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