The Financial Conduct Authority (FCA) has issued a stark warning to former British Steel pension scheme (BSPS) members to avoid any firms making unsolicited offers of redress, or they risk financially losing out.
In a statement on its website the regulator revealed certain firms have been contacting former BSPS members who have not made complaints about advice they received in respect of their pension, and making unsolicited offers to them. The regulator believes this may be a "deliberate attempt" to swindle BSPS members out of compensation they may be due for receiving bad pension advice in relation to the scheme. In its statement the FCA warned: "We believe the actions by firms may be a deliberate attempt to exclude former members from participating in the scheme, binding them to receiving ...
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