Last chance for BSPS victims to claim compensation

Approaching six year time limit

Sophie King
clock • 3 min read

The period during which those affected by the British Steel Pensions Scheme (BSPS) scandal can claim compensation ends next year and workers are being encouraged to come forward to make claims.

Steelworkers have six years to make a claim from the time the defined benefit (DB) transfer was made. As most steelworkers in the north of the country transferred out before 2016, steelworkers in Scunthorpe, Middlesbrough and Teeside are being encouraged to come forward before times runs out next year. Most steelworkers in South Wales, however, did not tend to transfer out until 2017, so they have a little longer to consider their options.  Law firm Clarke Willmott has been supporting steelworkers who might be eligible for compensation. The firm's partner and financial services ...

To continue reading this article...

Join Professional Adviser for free

  • 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 Your profession

Tessa Lee: The invisible cost of poor client data

Tessa Lee: The invisible cost of poor client data

How can you improve data quality?

Tessa Lee
clock 23 July 2026 • 4 min read
Dean Proctor: Hopes and fears for the new PM and cabinet

Dean Proctor: Hopes and fears for the new PM and cabinet

Stability, simplicity and the chance to do things differently

Dean Proctor
clock 23 July 2026 • 5 min read
Should spousal maintenance be abolished? A modern perspective

Should spousal maintenance be abolished? A modern perspective

Making the case for abolition and retention

Amy Walpole and Karen Brennan
clock 22 July 2026 • 4 min read