Scunthorpe British Steel pensioners back at Baths Hall for 'helpful' second pension roadshow

By Scunthorpe Telegraph | Posted: 21 Nov 2017

British Steel pensioners in Scunthorpe got a second chance to ask questions about the future of their investments.

Representatives of the Pension Protection Fund and the British Steel Scheme’s trustee board returned to the town’s Baths Hall yesterday (Monday, November 20) for a repeat road show.

Their return to Scunthorpe came less than four weeks after the first presentation at the Baths which attracted packed houses to the three two-hour sessions on October 24.

This time the sessions were limited to two.

READ MORE: Financial watchdog launches investigation into allegations of pension sharks targeting steelworkers

Following the afternoon session, the people we spoke to said the session was useful.

Janice Radford, who retired 10 years ago, said: "I think it was helpful to a lot of people. There are so many different types of pension being adminstered.

"There were a lot of questions that were quite complicated for people with specific circumstances.

"I am happy with it."


Janice Radford

Michael Grant worked as a finance controller at Scunthorpe for a number of years.

He said: "I thought it was very helpful in explaining the options to pensioners. The British Steel Pension Scheme has always been an excellent scheme. The trustee has done the best they can given the circumstances they find themselves in."


Michael Grant

Martin Common said: "I thought it was really informative. The audience have participated better than last time.

"They have explained it in layman's terms. This has convinced me I am making the right decision."

Graham Petrow worked on the steelworks for 28 years in the Bloom and Billet Mill.

"I am happy with what I have been told. There were quite a few things they cleared my mind on," he said.


Graham Petrow

Time is fast running out for the estimated 20,000 stake-holders, who have been given until December 11 to decide where to invest their money.

They can choose to put their stakes in the hands of the Pension Protection Fund or invest in a new trustee-run scheme set up with the help of cash from Tata Steel UK, with both schemes due to come into effect from March.

They can also decide against both options and transfer their money out.



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