Tag Archives: Port Talbot
“Great Britain?” How we get our future back with Torsten Bell
I am pleased to have a visionary running the Pension Ministry from both the DWP and HMT. This blog is from 07 July 2024 when I hoped he’d be appointed immediately. Friends who are on the inside suggested he’d need … Continue reading
Port Talbot needs a plan B
I’m not going to try and to compete with the BBC, Its reporting on the announcement that the blast furnaces at Port Talbot will be closing and 3000 jobs will be lost at Tata Steel, is magnificent. Give this a … Continue reading
Posted in pensions
Tagged Business, pension, Pension Regulator, Pensions, Port Talbot, Steel
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Just desserts still have to wait – 6 years on.
OTD in 2017 that I persuaded Henry Tapper to visit Port Talbot with me to listen to BSPS steelworkers. Appropriate therefore, that exactly 6 years on, the Daily Mail exposes Darren Reynolds. Six years on, astonishingly, the fight for justice … Continue reading
Port Talbot’s chicken dinner man gets fined £2m.
Darren Reynolds has been banned for acting as a Director and fined over £2m for losing just under £24m of his client’s money in high risk unregulated investments. The FCA’s actions relate to activities prior to Reynolds becoming notorious for … Continue reading
Posted in pensions
Tagged Al Rush, Chicken dinner, Darren Reynolds, Pensions, Port Talbot
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Jo Cumbo remembers Port Talbot
If you could go to one of the two Facebook support groups for mis-sold BSPS pension Scheme this bank holiday weekend, you’d find this post Al Rush has put the last four minutes of this week’s VFM podcast, the minutes … Continue reading
Newscape – the steelworker’s fractional scammer – bites the dust
When I cast my mind back to the dark days of 2017 when Darren Reynolds was sourcing leads for his advice from Celtic – one fund appeared on the SIPP statements of steelworkers we met which I had never heard … Continue reading
Posted in pensions
Tagged BSPS, Gallium, Nescape, Pensions, Port Talbot, Vega Algorithms
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Which stranded assets should we pick?
Like any liberal do-gooder, my first reaction to hearing the Government had cleared the digging of a £165m mine in Whitehaven with “dismay” – or an expletive not fit to be published. My second reaction was “what do I know” … Continue reading
Posted in pensions
Tagged Coal, Conflicts, ESG, Port Talbot, Scunthorpe, Steel, stranded assets, Whitehaven
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Why steelworker’s compo is set to fall by £15,000
The FCA has published its proposed redress scheme for steelworkers but it looks like the compensation will cost £49m rather than the estimated £71m earlier this year. The new compensation levels are now estimated to average £45,000 (down from £60,000) … Continue reading
The pension transfer mess: who pays and what’s paid?
There’s an irony to PAC’s assertions. It was extremely critical of the FCA in almost every aspect but never even questioned a key one: the FCA’s own assessment that transfers were very widely unsuitable at BSPS. This is now being … Continue reading
The dark side of pension freedom; the NAO report on the FCA and BSPS
The National Audit Office has produced what will no doubt become the definitive report on the British Steel Pension Scheme and what happened to it. It focuses on how the FCA was organised to prevent, identify, and respond to unsuitable … Continue reading