Nick Smith MP backs action to rectify British Steel pension scandal

In a speech at the House of Commons, Smith called for more action to help those who had "been targeted by unscrupulous pensions advisers". He said: "There were nearly 8,000 transfers out of the scheme, and we know that 872 of those were advised by firms that were eventually required to stop advising. Too many people saw their hard-earned pension pots put at risk, including constituents of mine who were worried sick about their future. "The pension's debacle that hit steelworkers last winter should never have happened." Smith also pointed out that, while interest in steel pension tr...