Consultation outcome

British Steel Pension Scheme

This consultation has concluded

Download the full outcome

Government response to the British Steel Pension Scheme consultation

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Welsh: Cynllun Pensiwn Dur Prydain

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Detail of outcome

We published the government response to this consultation on 19 March 2018.

The response was also included in the Protecting defined benefit pension schemes white paper published at the same time.

Original consultation

Summary

Options for potentially helping the British Steel Pension Scheme as a part of a wider package of government support.

This consultation ran from
to

Consultation description

This consultation paper sets out various options for potentially helping the British Steel Pension Scheme as a part of a wider package of government support to do what we can for UK Steel, steel workers and affected localities.

Who this consultation is aimed at

We welcome comments from those who live or work in Port Talbot, work for Tata Steel UK, in the British steel industry more generally or are members of the scheme. In addition we welcome comments from those who are connected with occupational pension schemes or employers paying the Pension Protection Fund levy for schemes that they sponsor, and anyone with a general interest in pensions.

Update – August 2017

On 11 August 2017, The Pensions Regulator approved the separation of Tata Steel UK and British Steel Pension Scheme. The government continues to work closely with the interested parties to ensure the best outcome for pension scheme members. We want to keep all options open while the detail of that is worked through.

Documents

British Steel Pension Scheme: public consultation

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Factsheet: consultation on the British Steel Pension Scheme

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Welsh: Cynllun Pensiwn Dur Prydain: ymgynghoriad cyhoeddus

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Welsh: Dalen ffeithiau – Ymgynghoriad ar Gynllun Pensiwn Dur Prydain

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Published 26 May 2016
Last updated 19 March 2018 + show all updates
  1. Added the government response to this consultation.
  2. Added an update following the announcement by The Pensions Regulator. The government continues to work closely with the interested parties to ensure the best outcome for pension scheme members. We want to keep all options open while the detail of that is worked through.
  3. Added Welsh versions of the consultation and factsheet.
  4. Published British Steel Pension Scheme: consultation factsheet.
  5. Corrected an error in the first sentence on page 18 (paragraph 61). Inserted "not" so it now reads – "DWP estimate that around 500 of these individuals would not be subjected to the cap following the implementation of the three per cent uplift."
  6. First published.