£2bn buy-in agreed for 31,000 British Steel pension scheme members
A major deal that could enhance more than 30,000 British Steel pensions has been agreed, with a £2 billion buy-in from a new insurer.
Pension Insurance Corporation will secure the liabilities of the members, paving the way for the Old British Steel Pension Scheme to leave the Government’s Pension Protection Fund safety net it had been placed in two years ago.
More than 120,000 former…
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