The Financial Services Compensation Scheme (FSCS) has topped up the compensation payouts of five steelworkers, adding a total of £80,000 to their claims.
The lifeboat fund has issued an update about its compensation decision for British Steel Pension Scheme (BSPS) members affected by the failure of adviser firm Active Wealth UK, which was found to have wrongly advised them on pension transfers. As a result of its recalculation of the compensation, the lifeboat fund topped up five claimants, including one customer who had previously received no compensation, with an additional £80,000. Just 11 of the 77 Active Wealth clients who put in claims to the FSCS suffered no loss and so were not entitled to any compensation. The FSCS said there ...
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