Trustees do need professional help with member communications as suggested by the review into British Steel Pension Scheme case, this week's Pensions Buzz respondents said.
Jonathan Stapleton looks at the lessons that schemes can learn from the review of the British Steel Pension Scheme consultation experience.
Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.
Steelworkers are set to receive their first payments today from the new British Steel Pension Scheme (BSPS), which is now in full operation for over 80,000 employees.
The initial funding level test criterion for the new British Steel Pension Scheme (BSPS) have been "comfortably met", according to the trustee.
The Work and Pensions Select Committee has urged the FCA to ban the use of contingent charging for pension transfer advice in its latest report into the British Steel Pension Scheme (BSPS).
Ensuring British Steel workers were well-equipped to make a decision on their future pension provision was "afforded insufficient priority", and the regulator now needs to review the process, the Work and Pensions Committee (WPC) has said.
The Pensions Ombudsman is investigating a group of more than 150 complaints about transfer values from British Steel Pension Scheme (BSPS) members.
More than 25,000 steelworkers did not return their 'options forms' and as a consequence will remain in the current British Steel Pension Scheme (BSPS) for now, to move into the Pension Protection Fund (PPF) at the end of March.
Henry Tapper says as the initial euphoria of 'never having to buy an annuity again' wears off, the prospect of freedoms becomes less appealing
The British Steel Pension Scheme (BSPS) has told MPs it has given members enough guidance and information to make informed choices about their pension.
Industry experts are worried many British Steel Pension Scheme (BSPS) members will end up in the Pension Protection Fund (PPF) instead of switching to the new fund.
A "special" evidence hearing will be held by the Work and Pensions Committee (WPC) in order to probe "questionable approaches and unsuitable advice" given to British Steel Pension Scheme (BSPS) members
There are increasing calls to review the process for regulated apportionment arrangements, which are still rare. Stephanie Baxter explores the rationale for a more flexible framework.
A regulated apportionment arrangement (RAA) has been conducted for the British Steel Pension Scheme (BSPS) after no appeals were lodged since it was agreed in principle last month.
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.
Tata Steel has agreed the "key commercial terms" of a regulated apportionment arrangement with the British Steel Pension Scheme (BSPS) in a deal that could be worth in excess of £550m.