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 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 Pensions

Why documentation is king in the world of SSAS

Why documentation is king in the world of SSAS

'SSAS documentation - it isn't just best practice or a fiduciary requirement'

Caitlin Southall
clock 04 July 2025 • 4 min read
Steve Webb: Sceptical advisers should not give up on pensions dashboard

Steve Webb: Sceptical advisers should not give up on pensions dashboard

‘A big mistake to underestimate the impact it will have’

Jenna Brown
clock 03 July 2025 • 3 min read
What role can advisers play in closing the gender pension gap?

What role can advisers play in closing the gender pension gap?

Advisers are uniquely placed to influence the gender pension gap

Olivia Perry
clock 02 July 2025 • 7 min read