British Steel Workers

Back in 2017, the British Steel Pension Scheme (BSPS) underwent a restructuring in its policies.

During this time, many workers in the British Steel industry were advised to seek financial advice, and given two options: either remain with BSPS arrangement, or transfer their pension to a private scheme.

This resulted in a “transfer deadline”, meaning that many people believed they had only a short window in which to make their decision. Because of this, many financial advisors (some of whom were unregulated) appear to have targeted British Steel workers, capitalising on their uncertainty and providing unsuitable advice.

It has since come to light that many current or retired British Steel workers have lost out on potentially thousands of pounds of their retirement savings, through transferring to a private scheme that was sold as being beneficial to them. In reality, this has left them significantly worse off financially, with some employees now facing an uncertain future at a time that should be about enjoying the rewards of years of hard work.

If you were advised to transfer your pension from BSPS, then you may have been mis-sold, or subject to unsuitable advice.

At Money and Me Solicitors, we understand the complexities involved in pension mis-selling. With a proven track record of success, David and his specialist team here at Money and Me Solicitors seek justice for those who have lost out due to unsuitable, negligent advice.

To find out if you have a claim, reach out to our team today for an honest assessment. We operate on a no-win, no-fee basis, which we will explain to you before you sign up with ourselves and our transparent approach is free of jargon, and gives you the benefit of our vast experience in making claims in this sector.