The 20,000 Scunthorpe stakeholders in the British Steel Pension Fun could face payment cuts of at least 10 per cent if changes to the scheme are not agreed, the board of trustees warned today.
The warning followed the government's decision to start public consultation on the potential changes to the 49-year-old scheme in order to meet a £450 million black-hole in funding needs.Cuts of 15 per cent had previously been feared.
Allan Johnston, the trustee chairman, in a letter to...
