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STEELWORKERS who lost their hard-earned pensions following bad financial advice are being let down by bureaucratic inertia, say campaigners calling for renewed support. Two Welsh MPs - including Blaenau Gwent s Nick Smith - have written to the new head of the Financial Conduct Authority (FCA), urging him to take a leading role in holding to account those responsible for the steelworkers plight. More than 7,000 steelworkers are victims of the British Steel Pensions Scheme (BSPS) scandal. Three years ago, steelworkers were asked to make a final decision on their pension options. But Mr Smith said many workers were unsure of their options and turned to financial advisers for advice - leading to pension sharks fleecing many hardworking steelworkers, he said. The compensation owed to the victims is estimated at £250-375 million.

Port talbotNeath port talbotUnited kingdomNikhil rathiStephen kinnockBritish steel pensions schemeBritish steel pension schemeபோர்த் டால்போட்நீத் போர்த் டால்போட்ஒன்றுபட்டது கிஂக்டம்நிகில் ரதிபிரிட்டிஷ் எஃகு ஓய்வூதியங்கள் திட்டம்பிரிட்டிஷ் எஃகு ஓய்வூதியம் திட்டம்