British Steel Pension Scheme Transfer

Was your pension in the old British Steel Pension Scheme?

You might be owed money if you transferred out.

You could be one of the many people due compensation after receiving unsuitable advice to transfer out of the British Steel Pension Scheme (BSPS). Hundreds of steelworkers have already complained about the advice they received from an advice firm.

Even if you're happy with your decision to transfer, you should consider making a claim. If you don’t you may end up with less money in retirement than you should have done. FSCS may be able to compensate you up to £85,000. Take action now.

We understand that making your claim may seem like a daunting process. Making a claim with FSCS is completely free and confidential. We are here to help you each step of the way and to ensure the process is as simple as possible.

Check if the firm who advised you about your British Steel pension is on this list:

Active Wealth (UK) Ltd FRN 631415

Bartholomew Hawkins Ltd, trading as Turris Port Wealth Management Ltd FRN 489590

Douglas Baillie Ltd & Fast Pensions Ltd FRN 187675

Estate Matters Financial Ltd, trading as Pension Matters FRN 472900

Fiducia Wealth Solutions, formerly Regen Investments Ltd FRN 646975

Hyde Financial Management Ltd, formerly Imperial Wealth Management Ltd FRN 501271

Intuitive Associates Ltd trading as Intuitive Financial Associates FRN 782809

Intuitive Financial Associates LLP FRN 516067

Mansion Park Ltd, trading as Mansion Park Scotland, David Head MPL, Michael J Alexander FRN 209313

Omega Financial Solutions FRN 624826

Pembrokeshire Mortgage Centre Ltd, trading as County Financial Consultants FRN 479220

S & M Hughes Limited t/a Crescent Financial FRN 566837

The Ntrust Group Ltd FRN 232159

If the firm is on this list, read our easy-to-use guide to making a claim in English or Welsh. When you’re ready, start your claim.

If the firm is not on this list, either contact us to ask or contact the Financial Ombudsman Service (FOS) which has a dedicated team, webpage and email address for BSPS members.

 

Frequently asked questions

Should I use a solicitor or Claims Management Company?
You do not need to use a claims management company (CMC) or a solicitor to make a claim. If you do you will have to share any compensation you get with them. If you decide to use a CMC or a solicitor, make sure you understand the terms of your agreement with them.

Is my complaint more likely to be successful if I use a solicitor or CMC?
No, using a CMC or solicitor will not affect the outcome of your claim. FSCS will treat your claim in the exact same way as ones made through CMCs and solicitors.