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...

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