Month: July 2017

British Steel Defined Benefit pension crisis the first of many?

News of developments in the deficit-laden £15 billion British Steel pension scheme has left 130,000 members with a decision to be made: stay in their existing scheme, soon to be placed into the Pension Protection Fund which offers compensation to members of Defined Benefit pension schemes with insufficient assets to cover liabilities, or to change to a second proposed scheme that offers less benefits and a reduction in funds. Unfortunately for British DB pension members elsewhere, this is a trend that is unlikely to stop with British Steel.

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