British Steel
IFA linked to British Steel pension transfers goes under
IFA firm Active Wealth has gone into liquidation, four months after it was suspended from taking on new clients after the UK regulator raised concerns it gave “questionable advice” to British Steel Pension Scheme (BSPS) members.
Pensions Ombudsman investigates 150 British Steel complaints
The UK’s Pensions Ombudsman is currently investigating a group of more than 150 complaints and expects to receive more about transfer values linked to the beleaguered British Steel Pension Scheme (BSPS).
FCA blasts ‘sleepwalking into another scandal’ accusations
The chief executive of the Financial Conduct Authority has wholly rejected a report from the Work & Pensions Select Committee that said the UK watchdog of “sleepwalking into another mis-selling scandal”.
FCA probes 109 firms connected to British Steel pensions
The Financial Conduct Authority has contacted 109 firms connected to British Steel Pension Scheme (BSPS) transfers and requested further information from 66 of them, the regulator has confirmed.
Best Practice | 13 Dec 17
SJP stops British Steel pension transfers amid industry scam concerns
The chair of the UK’s Work and Pensions Select Committee has described the British Steel Pension Scheme as a “honeypot for scammers”, as St James’s Place confirms it has stopped accepting transfer requests from scheme members in an unrelated move.