Quilter doubles redress provision for British Steel pension transfers

Hannah Godfrey
clock • 2 min read
Quilter chief executive officer Paul Feeney.
Image:

Quilter chief executive officer Paul Feeney.

Advice giant Quilter has set aside £24m to compensate British Steel workers advised to transfer out of their defined benefit (DB) pensions by Lighthouse, doubling its previous redress provisions.

In its half year results released on Tuesday morning (11 August), Quilter revealed it had increased the provision set aside for potential claims against Lighthouse, up from £12m it previously set a...

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