City Of London
U.K. Plans £71 Million Compensation for British Steel Pensioners
- FCA says 46% of financial advice it reviewed was unsuitable
- Steelworkers lost out by transfering out of pension plan
Workers leave British Steel Ltd.'s plant in Scunthorpe, U.K.
Photographer: Darren Staples/BloombergThis article is for subscribers only.
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The Financial Conduct Authority has laid out plans to compensate former members of the British Steel Pension Scheme, after finding almost half of the advice given to steelworkers using the plan by financial advisers was unsuitable.