Mineworkers' Pension Scheme

Mineworkers' Pension Scheme

The Mineworkers' Pension Scheme was established in 1952 to provide benefits for former coal industry workers. Gary Saunders was appointed Chair of the Trustees in May 2024. The scheme shares executive functions with the British Coal Staff Superannuation Scheme through their joint ownership of Coal Pension Trustees Services Limited. The UK Government acts as guarantor for pension payments and participates in surplus distributions. Private equity accounts for 16.84 percent of assets. Confirmed commitments include The Eighth Cinven Fund and ECI Partners Fund through the Mineworkers' Private Equity Trust. Infrastructure exposure runs through Dalmore Infrastructure Investments, GLIL Infrastructure, and Greencoat Solar. Real estate assets include a diversified UK portfolio managed by Delancey, with active holdings such as MPS Wembley Limited Partnership and Greengate GP LLP. Geographic reach centers on the United Kingdom and Europe, with additional shipping investments managed by Tufton Oceanic and commodities exposure via Wellington. The scheme reports no disclosed headcount or additional offices. It maintains signatory status to the UK Stewardship Code and the Asset Owner Diversity Charter. Mark Walker participates in the 300 Club and the UK Pension Fund Investment Forum advisory committee. In May 2025 the scheme spoke at UKREiiF on balancing regeneration and decarbonisation funding. The scheme's architecture is defined by its statutory relationship with the UK Government and co-ownership of Coal Pension Trustees Services Limited with the British Coal Staff Superannuation Scheme. This structure creates shared governance and asset-holding entities that differ from standard pension fund arrangements.