18 December 2024
On 14 November, the BCSSS Trustees wrote to Sarah Jones, Minister for Industry in the Department for Energy Security and Net Zero. We asked that members of BCSSS be treated equally to members of MPS.
This would mean:
- The £2.3bn BCSSS investment reserve is transferred to members as soon as possible, and
- The Government commits to a review of how any future surplus is shared between members and the Government.
The Trustees met with Sarah Jones on 16 December to discuss this, stressing the similarities between MPS and BCSSS and their memberships.
Sarah Jones agreed to raise the equal treatment of BCSSS members with the relevant parts of government before Christmas and to update the Trustees in the new year.
In response to a question asked in parliament on 17 December, Ed Miliband, the Secretary of State for Energy Security and Net Zero, said:
“My Hon Friend is right about the read-across and the sense that the injustice that has been remedied in the MPS needs to be remedied in the BCSSS. There is also a real need for speed.”
What happens next
We believe that this is a positive step, and we know how important this subject is to members. We’ll share any more information we have with you as soon as we can.
This is a political matter – changes to the Scheme rules can only be made by the Government. You may therefore wish to contact your MP about possible changes to BCSSS, noting that the Trustees have met with the relevant minister.