London, Wednesday 1 July 2026 — The Trustees of the British Coal Staff Superannuation Scheme (BCSSS) today announced the appointment of BlackRock as fiduciary manager for the Scheme, which serves approximately 39,000 members.1
BlackRock will manage the Scheme's investments within clear parameters set and overseen by the Trustees, who retain full control of investment strategy and risk. The appointment follows a competitive selection process, in which the Trustees considered the Scheme’s present and future needs.
Cheryl Agius, Chair of the Trustee Board at the BCSSS, commented: “The Trustees are delighted to appoint BlackRock as the Scheme’s fiduciary manager and look forward to working closely with the team.
“As the Scheme continues to mature, the Trustees have reviewed its investment needs to ensure it remains well positioned to deliver the long-term objectives. BlackRock’s global investment expertise, scale and experience working with some of the UK’s largest pension schemes make it well placed to support the Scheme now and in the future.
“Our priority remains protecting members’ benefits and ensuring the Scheme continues to be managed in the best possible way with their interests in mind.”
Sarah Melvin, Head of the UK & Europe Client Business at BlackRock, said: “We are extremely proud to be appointed by the Trustees of the British Coal Staff Superannuation Scheme to manage the Scheme’s investments. Working closely with the Trustees, our focus will be on supporting the long-term security, stability and reliability of members’ retirement income over the years ahead. We are honoured and excited to bring our investment and retirement expertise to support the Scheme and its many thousands of individual pensioners across the U.K.”
BlackRock is one of the global leaders in investment, advisory and risk management solutions, and has been managing fiduciary mandates for over 20 years.
The Trustees remain fully responsible for the Scheme, including setting the investment strategy and risk as well as overseeing BlackRock's ongoing performance against agreed objectives.
Members’ benefits and pension payments are not changing and will continue to be paid as they are today. The Government Guarantee remains in place and is unaffected.
Note to editors:
BlackRock currently manages over $400bn / £300bn in OCIO and/or fiduciary management assets worldwide.2
Further information for members is available on BCSSS’s website.
Media Contacts
BCSSS
bcsss.enquiries@coal-pension.org.uk
BlackRock
Emma Phillips
+44 (207) 7432922
Hanna Modder
+44 (20) 36493819
1 Source: British Coal Staff Superannuation Scheme, Report & Accounts 2024/2025, as of 31st March 2025.
2 Source: BlackRock, as of 31 March 2026. Converted from USD from 31st March 2026 spot rate: 1 USD = 0.7583 GBP.
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