12 Dec 2017

Steel workers’ anger over pensions

Economics Correspondent

Steel workers in south Wales have attacked what they say has been aggressive advice over their pensions, which they say could cost each of them thousands. Their pension scheme was closed when the owners of the steel works in Port Talbot, Tata Steel, cut a deal with the government to keep the plant open last year.

Thousands of workers found themselves having to make speedy decisions about their pension pots. That led to what the workers have called a “feeding frenzy” by many independent financial advisers.