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Tata Steel offers £520m pensions payment in bid to secure future

Published on Thursday 20th of April 2017 05:14:48 PM in Guardian

Tata Steel could pay more than £500m into its UK pension scheme as part of a deal with regulators that involves the Pension Protection Fund taking a stake in the business.The Indian-owned company needs to find a solution to its pension scheme to secure the future ...

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    ....The scheme, which is called the British Steel pension scheme, has 130,000 members and liabilities of £15bn, making it one of the largest in the country. Trustees for the scheme warned earlier this year that the deficit could rise to between £1bn and £2bn without support from Tata Steel. ...
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