MORE than 1,600 former mineworkers are set to benefit from an uplift to their pensions thanks to changes announced in Labour’s budget.
There are 1,622 Mineworker Pension Scheme members in the Blaenau Gwent and Rhymney constituency, the highest number by constituency in Wales.
Chancellor Rachel Reeves announced in her budget that the £1.5bn Mineworkers Pension Scheme Investment Reserve will be returned to members, which means 13,156 pension scheme members across Wales will see a 32 per cent increase to their annual pension, an average increase of £29 per week.
Nick Smith, MP for Blaenau Gwent and Rhymney, said: “I come from a family of mineworkers, I know how important this is to put right. This will make a big difference to those 1,622 pension scheme members in my constituency.”
Mr Smith has been one of the most prominent campaigners on securing a better deal for mineworkers in Parliament.
He Smith said: “Miners spent decades working deep underground to keep our country running. I’m very pleased that they will now be justly rewarded.”
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