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

Feel Good Friday: Wise Investment employee takes on the Great Wall of China for charity

Feel Good Friday: Wise Investment employee takes on the Great Wall of China for charity

Raising funds for Katherine House Hospice

Professional Adviser
clock 13 March 2026 • 1 min read
Directly authorised numbers fall as networks continue to attract advisers

Directly authorised numbers fall as networks continue to attract advisers

‘The DA market is shrinking’

Isabel Baxter
clock 12 March 2026 • 3 min read
Almost half of clients report increase in advice fees

Almost half of clients report increase in advice fees

One of five advisers plan to increase initial fees in next 12 months

Isabel Baxter
clock 12 March 2026 • 2 min read