British Steel Pension Scheme (BSPS)

Were you previously a member of the old British Steel Pension Scheme (BSPS)?

If so, you may be eligible for compensation if you transferred out.

Many people who transferred out of the scheme received unsuitable advice to do so, and hundreds of steelworkers have already complained about the advice they received.

Even if you’re happy with your decision to transfer out, you may still be eligible for compensation. Although many pensions have performed reasonably well / increased in value since being transferred out, it is likely those pensions would be worth far more had they never been transferred.

If you don’t make a claim, you may end up with less money in your retirement pot than you should have had. If you did receive advice to transfer out of the scheme, and you took that advice – please get in touch with us as you may be eligible for compensation.

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