Tata Steel to close BSPS and replace with 'competitive' DC

Stephanie Baxter
clock • 3 min read

Tata Steel UK has agreed with unions to start consulting on closing the British Steel Pension Scheme (BSPS) and replacing it with a "competitive" defined contribution (DC) arrangement.

Today's announcement comes as the company committed to keeping the Port Talbot steelworks open, saving over 4,500 jobs in south Wales, after agreeing a £1bn rescue deal with the unions. They agr...

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