UK - Steel workers are calling on independent trustees of the £119m ASW Pension Plan to open its accounts to scheme members.
The Iron and Steel Trades Confederation wants Pinsent Trustees, the scheme’s independent trustee, to tell members the true state of the insolvent steel company’s pension scheme.
However, an ISTC spokesman said: “We don’t want it left too long, but at the same time we’re aware that they have processes that they have got to go through to do their job properly.”
The union’s calls come after last month’s revelation that members of the ASW scheme could face benefit cuts ranging between 10-90% due to the scheme’s shortfall.
Pinsent, which is conducting a valuation of the scheme, says the results will be available within the next few months.
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