PPF should not pay out for British Steel, industry says

Victim compensation views

Hope William-Smith
clock • 3 min read

The Pension Protection Fund (PPF) should not be tasked with providing a guaranteed income to victims affected in the collapse of the old British Steel Pension Scheme (BSPS), a PP poll finds.

Almost two-thirds (62%) of respondents to last week's Pensions Buzz disagreed the PPF should be the body to provide affected steelworkers with a guaranteed income similar to what they would have received had they not transferred out of the fund in the 2017 scandal. This came ahead of 25% of pundits who agreed the PPF should pay out for victims, while 13% were unsure. It comes after the Personal Investment Management & Financial Advice Association said earlier this month that it supported the PPF providing steelworkers with a guaranteed income but said financial advice firms should sti...

To continue reading this article...

Join Professional Adviser

  • 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 Pensions

Curry: "Design standards are vital for consumer protection."

Pensions dashboard design standards consultation opens

PDP consultation closes to responses on 16 February 2023

Holly Roach
clock 02 December 2022 • 1 min read
FCA launches paper on dashboard provider rules

FCA launches paper on dashboard provider rules

'Welcome next step towards making dashboards a reality'

Holly Roach
clock 01 December 2022 • 2 min read
SIPP borrowing for commercial property investment explained

SIPP borrowing for commercial property investment explained

Helping clients navigate a pension lending 'journey'

Caitlin Southall
clock 01 December 2022 • 4 min read