Thousands of steelworkers to fall into PPF after failing to return paperwork

Of 122,000 members, fewer than 97,000 members completed and returned 'options forms', of which 86% were from members choosing to switch to the New BSPS and 14% were from members choosing to move into the PPF. The 25,000 that did not return an ‘options form' included members who wanted to move into the PPF, members who decided to take a transfer payment, and members who did not engage in the process. Provisional estimates have suggested that members transferring to the New BSPS will represent about 80% of the current scheme's assets and liabilities. The new scheme will provide the s...