British Steel Pension Scheme – major changes

Posted by Paul Davies on 23/11/17 16:04 | Post topics Pension Transfer, British Steel Pension Scheme, The Pensions Regulator

In August this year, The Pensions Regulator (TPR) in the UK gave approval to a type of restructure (known as a Regulated Apportionment Arrangement or RAA) of the British Steel Pension Scheme (BSPS), based on a proposal from Tata Steel UK (TSUK), to help prevent the company becoming insolvent.

This necessary restructure affected the estimated 130,000 members of the BSPS and left them with a choice to make regarding their pension benefits in the BSPS.

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