How British Steel Pension Changes Are Going to Affect You
There are thousands of ex-steelworkers in Teesside that need to now their options before the vote takes place which could see them losing even more in their pension pots moving forward. British Steel Pension Scheme members are currently being asked to make a decision between two options when it comes to their pensions. This has happened after Tata Steel managed to separate itself from the scheme successfully only weeks ago. The Facebook Support Group for British Steel Pension Scheme members has grown to more than four thousand and their concern is that they could see a major drop in their pensions, with Tata and Corus workers losing more than they may think being completely unaware of the risks involved in their decision. Pensions Frozen to 40% Cut in Lifetime Income Those who retired prior to 1997 are going to be the hardest hit and their pensions will basically be frozen and pensions who are aged sixty will see a cut of approximately forty percent of the...