Work and Pensions Select Committee chair Frank Field has suggested the steelworkers caught up in the British Steel pensions debacle have been "sold short" on the compensation offered to them.
Field expressed disappointment in response to news the Financial Services Compensation Scheme (FSCS) has decided against changing the discount rate it uses to calculate compensation for the steelworkers given poor advice by Active Wealth UK in 2017. He said the steelworkers had been failed by regulators and were now being "sold short" on their compensation. The independent MP for Birkenhead (pictured) said: "British steelworkers were roundly failed by the official regulators meant to protect their life savings. "They were given precious little to guide them through murky water...
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