FCA warns firms advising British Steel members as scheme to exit PPF

Scheme to exit PPF

Hope William-Smith
clock • 2 min read
The trustees confirmed they are also still working on other exercises in the lead up to the new buyout date.
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The trustees confirmed they are also still working on other exercises in the lead up to the new buyout date.

Trustees of the British Steel Pension Scheme (BSP) say “good progress” is being made on plans to complete a buyout with Pension Insurance Corporation (PIC) despite having to move its expected date of completion into 2022, while the FCA has warned firms it will take action against bad advice given to members.

In a letter to scheme members, trustees of the beleaguered scheme confirmed it had exited its Pension Protection Fund (PPF) assessment period on 9 November. "We now expect to complete buyout by late...

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