£49m British Steel redress scheme gets greenlight from UK regulator
More than 1,000 consumers are expected to be compensated
More than 1,000 consumers are expected to be compensated
12 claims have already been filed with the FSCS
FCA faces a potential judicial review if problems are not resolved
Lifeboat scheme has received claims against the firm relating to the British Steel pension transfer scandal
UK lifeboat service has received 25 claims against the company
‘Based on the current methodology, the higher the rate of gilt yields then the lower the redress will be’
UK regulator believes companies should be planning for a potential redress scheme
Proposed changes in calculation will apply to British Steel members as well
It has ‘consistently been behind the curve in responding to unsuitable pension transfer advice’
Pimfa is calling on the watchdog to step up and use the pension protection fund
Regulator says come forward or miss out on compensation
As FCA ban on asset disposal comes into force