One of the youngest British Steel victims: 24-year-old tells transfer tale

Transferred £50,000

Sophie King
clock • 8 min read

Many stories have been told about the British Steel saga, but what was it like for a 24-year-old steelworker who transferred out and, like thousands of others, did not know just how much trouble it would lead to? Here, he speaks to Professional Adviser's Sophie King to reveal all

Having come through the British Steel apprentice scheme in 2010, the youthful steelworker, who preferred not to be named, says he was like any other young person and was not hugely concerned about his pension. When he started his career, he says the British Steel pension scheme was renowned for being a good, strong scheme and, as a local boy himself, knew he would be set up when he eventually retired. Fast forward half a decade and that all changed. In March 2016, Tata Steel announced it would be examining options to restructure the business, which would include decoupling the defined be...

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