Former mineworkers and widows from across Nottinghamshire have welcomed today’s Budget announcement on the decades-long pensions battle but say the fight is not yet over.

Former mineworkers and widows from across the region were reassured by the Chancellors commitment to their cause in his Autumn Budget today (October 28) but say the timeline still remains unclear.

Delivering the Autumn Budget Chancellor John Healey said: “For ex-mineworkers, I’m guaranteeing that every penny of the pension fund surplus now goes to miners. I know the job’s not finished and I will go on to ensure the full transfer of the guarantor’s fund.”

Mick Newton who worked at Thoresby Colliery for 15 years and has been fighting for a fairer deal for the past decade said the announcement did not go far enough.

Former mineworkers and widows at the Labour Party conference in Liverpool

placeholder image — Former mineworkers and widows at the Labour Party conference in Liverpool

He added: “I'm pleased the Chancellor in his statement accepted our case in principle, but it was too vague in my view.

“We've waited long enough, so the big question is when?”

Campaigners had hoped to receive more clarity in today’s budget following a decades long fight.

There are around 150,000 living members of the two primary pension schemes covering ex-miners.

Chancellor of the Exchequer John Healey holds up the traditional red ministerial box as he leaves 11 Downing Street, London, before delivering his first Budget to the Houses of Parliament. Picture date: Wednesday October 28, 2026. PA Photo. Photo credit should read: Dylan Martinez/Press Association

Campaigners have spent decades pushing to amend the 50/50 surplus-sharing agreement, ensuring members receive the full benefit of surpluses.

In 1994, when British Coal was privatised, it was agreed the Government would get half of any surplus from the pot in return for guaranteeing the value of the pensions would not decrease.

Successive Governments have made £4.8bn from the deal over the last 30 years.

When both the The Mineworkers' Pension Scheme (MPS) and The British Coal Staff Superannuation Scheme (BCSS) schemes were set up, the government was keen that some money should be held in reserve to ensure there was enough cash to pay out to members.

However, far more reserve money was built up in both funds than ever needed and following years of campaigning government changes so far have led to more than £1 billion being transferred back to the MPS and more than £2 billion transferred back to the BCSSS.

The Budget announcement comes after Chancellor Rachel Reeves announced in October last year that the entirety of the MPS investment reserve would be handed over to ex-coal miners and their families.

However members of the National Mineworkers Pension Campaign have been calling for the rest to be released as soon as possible.

Former Chancellor Rachel Reeves agreed in the last two Budgets to release part of the British Coal Staff Superannuation Scheme (BCSSS) cash.