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British Steel Pension Scheme Contents

Contents

Terms of Reference

Summary

1 Introduction

Why we did this inquiry

Steel industry

Tata and the BSPS

2 Choices on offer to BSPS members

BSPS2 or the PPF

The third option - transfer out

Inadequate information

Member engagement

Deadlines

Deemed consent

3 DB transfers

The regulatory regime

A boom in transfers and FCA oversight

Transfers from the BSPS

Confusion and mistrust

Lack of local support

4 Vultures

Unsuitable advice

Charging structures

5 Action on unsuitable advice

FCA activity on the BSPS

The FCA register

Presumption of unsuitability

Redress

Conclusions and recommendations

Formal minutes

Witnesses

Published written evidence

List of Reports from the Committee during the current Parliament



9 February 2018