A group of steelworkers visited Parliament to campaign for pension justice and compensation. Nick Smith, Tonia Antoniazzi and I brought them face to face with regulators: the Financial Services Compensation Scheme and Financial Conduct Authority.
During the transfer from the British Steel Pensions Scheme to the British Steel Pension Scheme 2, steelworkers, many with substantial pensions were left exposed to unscrupulous individuals who sought to exploit them. Those that I met had been conned into making decisions that were not in their best interests. In pursing compensation claims there have been huge discrepancies in the awards, with some being awarded nothing.
It was a positive meeting but there is more to do to secure pension justice and compensation for these steelworkers.