Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will take steps to help ensure that members of the British Steel Pension Scheme receive equal compensation.

The Financial Conduct Authority (FCA) is responsible for the regulation of the financial advice market and has looked closely at the advice provided to British Steel Pension Scheme (BSPS) members who transferred from the scheme.

Following this, the FCA has put in place a consumer redress scheme to ensure that the advice given to former BSPS members from the relevant period is reviewed and that redress is paid to those who lost out financially as a result of the poor advice they received.