Last chance for BSPS victims to claim compensation

Approaching six year time limit

Sophie King
clock • 3 min read

The period during which those affected by the British Steel Pensions Scheme (BSPS) scandal can claim compensation ends next year and workers are being encouraged to come forward to make claims.

Steelworkers have six years to make a claim from the time the defined benefit (DB) transfer was made. As most steelworkers in the north of the country transferred out before 2016, steelworkers in Scunthorpe, Middlesbrough and Teeside are being encouraged to come forward before times runs out next year. Most steelworkers in South Wales, however, did not tend to transfer out until 2017, so they have a little longer to consider their options.  Law firm Clarke Willmott has been supporting steelworkers who might be eligible for compensation. The firm's partner and financial services ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The rarely discussed barriers to closing the advice gap

The rarely discussed barriers to closing the advice gap

'The real issue isn't just access, it's attitudes, representation, and engagement'

Harry Webster
clock 04 April 2025 • 7 min read
The Apprentice stars call for more financial advice as online businesses surge

The Apprentice stars call for more financial advice as online businesses surge

‘Crucial that young entrepreneurs receive the right guidance to manage their finances’

Sahar Nazir
clock 03 April 2025 • 2 min read
Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

20% on EU, 10% on UK

Sorin Dojan
clock 03 April 2025 • 2 min read