The FCA has published a consultation on proposals for a redress scheme for members of the British Steel Pension Scheme (BSPS). The full consultation and how to submit a response can be found on the FCA website.
The Financial Ombudsman Service has worked closely with the FCA and other regulatory bodies to share information and insight about complaints involving the British Steel Pension Scheme and we will continue to do so to ensure that any proposals for a redress scheme will be as effective and efficient as possible.
Members of the British Steel Pension Scheme who want to make a complaint do not need to wait for the outcome of the consultation, they can complain now about the advice they received. If you have a complaint about the scheme you can read more about making a complaint about the BSPS on our dedicated information page, you can also find out how to do so within the time limits for making a complaint. If you are not sure what to do, or are worried about how long you have to complain, contact us directly and we can help you get started .
You can find information about what to expect when you make a complaint to the Financial Ombudsman and details about compensation we can award.