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BSPS scandal: £106m in redress offered to former pension scheme members

A furnaceman removes slag from molten iron.
Photo: Christopher Furlong/Getty Images

Martina Lindberg

2 min read
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Close to 1,900 formers members have been compensated, yet, less money than estimated has been paid out.

A total of £106m ($136m) has been offered so far to 1,870 former British Steel Pension Scheme (BSPS) members in the redress scheme to back those given faulty advice by pension advisers.

However, less money than expected has been paid out due to “changing economic conditions,” and, says the FCA, the

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