- Thursday, April 25, 2024
By: Sarwar Alam
Tata Steel today announced that it has concluded a new agreement under which its UK business stands separated from the £15 billion British Steel Pension Scheme (BSPS). “Tata Steel UK has received confirmation from the pensions regulator that it has approved a regulated apportionment arrangement (RAA) in respect of BSPS,” Tata Steel said in a statement. As part of the arrangement, a payment of £550 million has been made to BSPS by Tata Steel UK and shares in Tata Steel UK, equivalent to 33 per cent stake, have been issued to the BSPS trustee, the steel giant said. The BSPS…
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