British Steel workers to sue over pension transfer plight

Investigating 'all parties involved'

Hannah Godfrey
clock • 3 min read

British Steel workers who transferred their defined benefit (DB) pensions with Active Wealth UK have taken steps towards instigating legal proceedings against "all parties involved" in the process, Professional Adviser understands.

Solicitor firm Clarke Willmott has been instructed on behalf of a group of steelworkers who were advised by Active Wealth UK in respect of the Financial Services Compensation Scheme (FSCS) claims and any additional claims arising from the circumstances. The solicitor instructing on behalf of the steelworkers, Philippa Hann, told Professional Adviser her firm was in the investigatory stage of the process and would be looking into all parties that have formed part of the process. She said: "I'm delighted to have been instructed by the steelworkers. It's clear something has gone horribly...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Retirement worrying majority of people, survey shows

Retirement worrying majority of people, survey shows

Most have not spoken with an adviser during the cost of living crisis

Alex Sebastian
clock 02 March 2023 • 1 min read
State pension age hikes: Retirement affordability advice needed

State pension age hikes: Retirement affordability advice needed

State pension age is currently 66 with two further increases due

Adrian Boulding
clock 16 February 2023 • 7 min read
'Worrying' gender divide when it comes to retirement regrets

'Worrying' gender divide when it comes to retirement regrets

Nearly four-in-ten women had regrets about their retirement decisions

Ayesha Venkataraman
clock 31 January 2023 • 2 min read