PLSA comments on government’s expected proposal to consult on possible changes to the British Steel Pension Scheme

The Pensions and Lifetime Savings Association has today commented on the Government’s expected proposal to consult on possible changes to the British Steel pension scheme.

Joanne Segars, chief executive, Pensions and Lifetime Savings Association, commented:

"There’s clearly a strong need for the Government to help save Tata Steel's UK operations. While we recognise the role the pension scheme plays in this situation we also urge the Government to be alert to the fact that their actions in this issue could affect not only the members of the British Steel pension scheme but also the millions of other UK savers in defined benefit pension schemes. The Government must think this over most carefully and we will be glad to work with them on this issue. Trustees play a crucial role in safeguarding the interests of scheme members and that protocol must be maintained in any reform."

-ENDS-

 

NOTES TO EDITORS:

We’re the Pensions and Lifetime Savings Association, the national association with a ninety-year history of helping pension professionals run better pension schemes. With the support of over 1,300 pension schemes and over 400 supporting businesses, we are the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.

Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.

CONTACTS:

Lucy Grubb, Head of Media and PR, Pensions and Lifetime Savings Association

T: 020 7601 1726, M: 07713 073 023, E: [email protected]

Eleanor Carric, Press Officer, Pensions and Lifetime Savings Association

T: 020 7601 1718, M: 07825 171 446, E: [email protected]

Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association

T: 020 7601 1748, M: 07901 007 713, E: [email protected]