British Steel Pension Scheme

Department for Work and Pensions written statement – made at on 26 May 2016.

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Photo of Stephen Crabb Stephen Crabb The Secretary of State for Work and Pensions

Today I am publishing a consultation on options for the British Steel Pension Scheme. Britain’s steel industry is an important part of our economy and this Government is working to help the industry secure a long-term viable future. As part of this work we are considering the future position of the pension scheme. The consultation includes a full range of options that consider whether and how the scheme could be separated from the existing sponsoring employer and whether it will be necessary to reduce the benefits within the scheme. The consultation will run until 23 June 2016. I will place a copy of the consultation document in the House library.

This statement has also been made in the House of Lords: HLWS12