Regulator under fire over Monarch Airlines pension deal

In August, Tata Steel UK (TSUK) got the go-ahead to offload British Steel Pension Scheme and create a new defined benefit (DB) fund.

As part of the deal, TPR gave its formal approval to a RAA. Some 130,000 members have to choose by 11 December if they want to be transferred to a new scheme being created, BSPS II, or remain in the old DB plan which will be moved to the lifeboat scheme, the PPF.