PFS pushes for rethink of FCA's £71.2m British Steel compensation scheme

Challenging lump-sum approach

clock • 3 min read
PFS pushes for rethink of FCA's £71.2m British Steel compensation scheme

The Personal Finance Society (PFS) wants the Financial Conduct Authority (FCA) to reconsider its plans for assessing the amount of compensation owed to British Steel Pension Scheme (BSPS) members, calling its suitability into question.

The FCA should ditch its plans to mandate compensation in the form of a lump sum, said the PFS, alleging that such compensation failed to address the central issue of BSPS members giving up a guara...

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