Mineworkers’ pensions
Covers the arrangements made for mineworkers' pensions (MPS) and British Coal Staff Superannuation Scheme (BCSSS) following privatisation of British Coal in 1994.

Collective defined contribution (CDC) schemes are a new type of pension scheme in the UK. Sometimes also referred to as Collective Money Purchase Schemes, CDCs were introduced by the Pension Schemes Act 2021.
Pensions: Collective Defined Contribution (CDC) schemes (499 KB , PDF)
Collective defined contribution (CDC) schemes are a new type of pension scheme in the UK. Sometimes also referred to as Collective Money Purchase Schemes, CDCs were introduced by the Pension Schemes Act 2021.
The Royal Mail Collective Pension Plan is the only CDC scheme currently authorised by the Pensions Regulator. It launched on 7 October 2024.
There are two main types of pension scheme in the UK:
In a CDC scheme, both the employer and employee contribute to a collective fund. Like a defined benefit scheme, the collective fund pays scheme members an income in retirement. However, unlike in a defined benefit scheme, the employer does not guarantee the pensions paid by the scheme.
CDC schemes provide a target pension which is not guaranteed. The fund is managed collectively, unlike in defined contribution schemes where people build up their own pension pots. If the scheme is under (or over) funded, then members’ pensions can be decreased (or increased) accordingly.
Currently CDC schemes are only available to single employers. The government has consulted on proposals to extend the CDC market and plans to legislate for multi-employer CDC schemes in 2025.
The main advantages of CDC schemes are seen as:
The main disadvantages of CDC schemes are seen as:
Pensions: Collective Defined Contribution (CDC) schemes (499 KB , PDF)
Covers the arrangements made for mineworkers' pensions (MPS) and British Coal Staff Superannuation Scheme (BCSSS) following privatisation of British Coal in 1994.
Explore constituency-level data on state pensioners claiming Pension Credit in Great Britain using our interactive dashboard.
The state pension is liable to income tax, though pensioners are unlikely to pay tax in practice if their only income is the state pension.