Some members of British Steel pension scheme have incurred losses of up to £489,000

Thousands of steelworkers were the victims of pension regulation failures that left some with losses of up to £489,000, an official report has found, prompting accusations that the UK financial watchdog was “asleep at the wheel”.

The National Audit Office’s findings relate to a 2017 scandal involving members of the British Steel pension scheme, many of whom were persuaded to transfer their retirement savings by advisers who then pocketed huge fees.

Continue reading…
Source: The Guardian