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Daily Mirror
Daily Mirror
Business
Sam Barker

More than 1,000 British Steel pensioners to get £49million compensation over bad advice

British Steel FCA Tom Selby

More than 1,000 pensioners will get £49million in compensation after getting bad advice to transfer out of their British Steel retirement schemes.

The average pensioner will get around £45,000 under plans confirmed by the Financial Conduct Authority (FCA) regulator today.

Many British Steel pensioners lost up to £489,000 in life savings after getting duff financial advice to take money out of their defined benefit pensions.

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