Tata Steel pension plan


BRITAIN said last Thursday (26) it had started discussions on overhauling the deficit-laden British Steel Pension Scheme, a major stumbling block for potential buyers of Tata Steel’s UK assets. With serious offers now on the table for Tata Steel UK, Britain is racing against time to find a way to put the company’s British pension fund on a sound footing to help facilitate a sale. The consultation is looking at separating the pension scheme from Tata Steel and reducing its outgoings, while avoiding a collapse into the Pension Protection Fund (PPF), a government safety net that would leave many pensioners…

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