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Former British Steel pension scheme members get redress after unsuitable opt-out advice

Man in silhouette against background of steelworks
Photo: Getty Images

Martina Lindberg

1 min read
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Average payout expected to be £45,000 ($54,000).

Former members of the British Steel Pension Scheme (BSPS) are set to receive redress after getting unsuitable advice to transfer out of their pension scheme between May 26, 2016 and March 29, 2018. The Financial Conduct Authority (FCA) believes that over 1,000 former members were affected by the guidance and hasBSPS redress scheme

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