Photo Lewis Clarke is marked CC-by-SA/2.0 The financial regulator has said the total pay-out to British Steel Pensions Scheme members impacted by a mis-selling scandal is set to be more-than £20 million less than previously expected.
The Financial Conduct Authority (FCA) said more than 1,000 former British Steel Pension Scheme members are set to receive redress payments.
It said the bill to compensate workers will now be around £49 million. In March, it was estimated to cost slightly over £71 million.Steelworkers impacted by the scandal will receive an average redress payment of around £45,000, compared with a previously predicted pay-out of […]
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