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British Steel Pension Scheme

Volume 611: debated on Thursday 26 May 2016

Today I am publishing a consultation on options for the British Steel Pension Scheme. Britain’s steel industry is an important part of our economy and this Government are working to help the industry secure a long-term viable future. As part of this work we are considering the future position of the pension scheme. The consultation includes a full range of options that consider whether and how the scheme could be separated from the existing sponsoring employer and whether it will be necessary to reduce the benefits within the scheme. The consultation will run until 23 June 2016. I will place a copy of the consultation document in the House Library.