Steelworkers' insistent client perception 'stopping compensation claims'

Quarter believed they were insistent

Hannah Godfrey
clock • 2 min read

Steelworkers who transferred out of their defined benefit (DB) scheme are not complaining about the advice they received because they thought they were insistent clients, according to financial adviser Alastair Rush.

Rich Caddy, a shift operator at British Steel in Teesside, surveyed 178 workers who had transferred out of the British Steel Pension Scheme. The data, which was supplied to Professional Adviser, found almost a quarter (23%) of respondents thought they transferred as insistent clients, while the other 77% believed they had received a positive recommendation to transfer. However, Echelon Wealthcare managing director Alastair Rush, who has worked closely with a number of steelworkers to get compensation for the advice they were given, disputed the accuracy of the figures. He did not t...

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