Nick Smith
Main Page: Nick Smith (Labour - Blaenau Gwent and Rhymney)Department Debates - View all Nick Smith's debates with the HM Treasury
(1 year, 2 months ago)
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Andrew Griffith
We set out the terms of that settlement in 2010 and there is nothing to update the House on today.
Nick Smith (Blaenau Gwent) (Lab)
For over five years, I have campaigned on behalf of steelworkers who were part of the British Steel pension scheme. Many were ripped off by sharks posing as financial advisers. While a redress scheme is now in place, legal advisers for steelworkers report claim processing delays of six months at the Financial Conduct Authority, 12 months at the Financial Services Compensation Scheme and two years at the Financial Ombudsman Service, which suggests that all is not right. Delays to cases can have a big impact on possible payouts, so will the Minister please look into the performance of those organisations? Steelworkers and other financial consumers deserve much better than this.
Andrew Griffith
Yes, I will. I have had conversations with the hon. Member about that, and I will take up the case of any unwarranted delays.