On the 27th February 2 coaches with steelworkers and their wife’s will arrive a Westminster to discuss DB pension transfer compensation with MP’s and regulatory bodies.
A collection of MP’s and representatives from the Financial Conduct Authority (FCA), Financial Services Compensation Scheme (FSCS) and Pensions Ombudsman have also been asked to attend.
It is said the meeting will last 3 hours and will hear the impact and how transferring out of the British Steel Pension Scheme (BSPS) has affected their them.
Hundreds of BSPS workers a couple of years ago where given poor advice to transfer out of their defined benefit, advisers and firms that were involved in the transfers have lost pension transfer permissions and some have closed altogether.
Alistair Rush is hoping that the steelworkers will have their compensation calculated fairly and quickly.