A letter has been sent to members of parliament (MPs) concerning the amount of compensation offered to steelworkers caught up in the British Steel pension transfer saga.
Founding member of CHIVE - a pro bono group that was set up to help the steelworkers - and IFA Alastair Rush has written to Work and Pensions Committee chair Frank Field, and Welsh constituency Labour MPs Nick Smith and Steven Kinnock. The letter, seen by Professional Adviser, claimed that the methodology being used by the Financial Services Compensation Scheme (FSCS) to calculate the steelworkers' compensation disadvantages them in several ways, leaving them inadequately compensated. Rush's letter to the MPs said: "The perversity of [the situation] beggars belief. [The steelworkers] ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
