MPS warn of pension mis-selling

A major pensions mis-selling scandal is erupting according to MPS, who said British Steel Pension Scheme (BSPS) members had been “shamelessly bamboozled”.

The work and pensions committee said it had received worrying evidence about financial advice provided to members of the BSPS.

BSPS members had, over the past year, “been exploited for cynical personal gain by dubious financial advisers in tandem with parasitical so-called ‘introducers’,” it said.