Steelworkers Pensions Public Meeting

I attended a public meeting in the Twelve Knights about advice given to members of the British Steel Pension Scheme to transfer out of their final salary pension.

Steelworkers were exposed to opportunistic and unscrupulous advisers who swooped in like vultures, exploiting the situation for their own financial gain. 

The Financial Conduct Authority carried out a major review which found that the majority of cases to transfer out of a final salary pension were unsuitable. So there is concern that there are steelworkers who were wrongly advised to transfer out, but are not aware that they received bad advice.