TPR and PPF agree RAA proposal for British Steel scheme

Stephanie Baxter
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Lesley Titcomb, TPR
Image:

Lesley Titcomb, TPR

The regulator and lifeboat fund have agreed plans to sever the £15bn British Steel Pension Scheme from Tata Steel UK after months of negotiations with the trustee and sponsor.

The terms of the proposed regulated apportionment arrangement (RAA) include £550m to be paid into the 130,000-member scheme by Tata Steel, with the pension fund getting a 33% equity stake in the company,...

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