The current British Steel business is not, and has never been, a participating employer in the British Steel Pension Scheme and the new Scheme’s funding position is therefore not impacted by the financial position of British Steel.

Some employees at the British Steel business will have retirement benefits built up in the British Steel Pension Scheme through previous employment arrangements. Benefit entitlements within the new BSPS are unaffected by developments at British Steel.

The new British Steel Pension Scheme is sponsored by Tata Steel UK Ltd. (21st May 2019)