The funding deficit of the British Steel Pension Scheme (BSPS) has dropped from £550m to £90m as a result of cost cutting measures agreed following tough negotiations.
On completion of the fund's 31 March 2014 triennial valuation, the trustees and sponsor Tata Steel UK agreed on steps to improve the employer covenant and address the shortfall with deficit recover...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
