Tata Steel's plans to close British Steel scheme 'raised in talks'

Michael Klimes
clock • 4 min read

Tata Steel UK's intention to close the British Steel Pension Scheme (BSPS) to future accrual has been "raised" in discussions with unions, according to a lawyer close to the matter.

Pitmans director Julian Richards who is consul for the National Steel Co-ordinating Committee, told PP the conglomerate sees the pensions issue as a major obstacle to selling the business. It is...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • 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

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Tender Watch: Emerson selects LifeSight as master trust provider

Tender Watch: Emerson selects LifeSight as master trust provider

LifeSight will cover all active, deferred and drawdown members of the pension scheme

Professional Pensions
clock 27 August 2025 • 1 min read
FTSE 350 firms face 'financial risk' from early DB surplus access

FTSE 350 firms face 'financial risk' from early DB surplus access

Barnett Waddingham says firms will miss out on additional value if they access surpluses too soon

Holly Roach
clock 18 July 2025 • 2 min read
Professional Pensions' DB Funding Index

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
clock 10 July 2025 • 1 min read
Trustpilot