State pensioners being handed £1,508 bonus starting in December after review

HUNDREDS OF THOUSANDS of state pensioners will be handed a £29 weekly retirement income boost after 'decades-long injustice'. 100,000 former mineworkers are set to receive an increase in their pensions from today, following a Labour Party government move to return £1.5billion to the miners' pension scheme.

Ex-miners will be paid an average of £29 extra per week, ministers announced. The Government said the payment follows its reversal of a “historic injustice”, leading to £1.5 billion being transferred to the miners’ pension scheme last month.

The increase represents an average 32% rise in the annual pensions of nearly 112,000 former mineworkers and their dependents across the UK. The £1,508 annual boost for pensioners will come as incredibly welcome amid the Cost of Living crisis.

READ MORE Drivers who don't press three dashboard buttons in specific order face £2,500 fine

Energy Secretary Ed Miliband said: “This Government has kept our promise to return money rightfully owned to the ex-miners and their families – and today thousands of people will receive the money they deserve in their pension as a result. Today marks an end to a decades-long injustice that has denied thousands across the country the decent pension that they so undeniably deserve.

“We have delivered on our promise to right this wrong and I hope members and their families are able to enjoy the victory that they have waited far too long for.” The trustees of the Mineworkers’ Pension Scheme said: “This month marks a historic milestone for the members of our scheme with the first instalment of pension resulting from the recent investment reserve transfer being paid. This has been made possible due to the swift action of the Government in making good on its manifesto commitment but also as a result of the hard work of the team that supports the scheme.”

Allen Young, Pensioner Representative Trustee for the North East of England and Overseas members, said: “The government’s decision to make good on this part of its manifesto commitment in respect of the Scheme is a very positive development for our members.

“The Trustees will use the Investment Reserve to increase our members’ pensions and we will be writing to all members with the good news very shortly.”