I already got £85,000 from FSCS — can I claim more?

Possibly, yes. FSCS is capped at £85,000 per claim. If your actual loss was higher, or if a still-trading and insured adviser gave the original advice, additional compensation may be recoverable through FOS or the courts.

I transferred my BSPS pension in 2017 — is it too late?

Not necessarily. The FCA's British Steel redress scheme (PS22/14) covers most members advised to transfer between 26 May 2016 and 29 March 2018, and firms in scope had to review that advice themselves. Outside the scheme, the Financial Ombudsman and FSCS routes remain open, and Section 14A date-of-knowledge principles often apply.

How much does a BSPS claim cost?

Nothing upfront. We work on a No Win No Fee basis, capped under the SRA Claims Management Fees Rules — no more than 15% (and no more than £10,000) for compensation of £50,000 or more.

British Steel Pension Claim Sheffield | BSPS Mis-Selling Solicitors

Financial Mis-Selling Solicitors in Sheffield

South Yorkshire — BSPS scandal epicentre

Edward & Amaury Solicitors act for former British Steel workers across South Yorkshire on BSPS pension transfer claims, including advice outside the FCA's British Steel redress scheme, plus SIPP, mini-bond and APP fraud claims. We claim from the firm, the Financial Ombudsman (up to £455,000) or, if the firm has failed, the FSCS (up to £85,000). No Win, No Fee.

The British Steel Pension Scheme mis-selling scandal

Sheffield and Rotherham are at the epicentre of one of the most significant defined benefit pension mis-selling cases in UK history. Between 2016 and 2018, thousands of British Steel workers were approached by financial advisers — many operating from temporary offices in South Yorkshire — and persuaded to transfer their valuable BSPS pensions into SIPPs and personal pension plans. The FCA found that advisers had collectively transferred approximately £2.8 billion out of the BSPS during this period, with widespread unsuitable advice.

Have you already received FSCS compensation?

Many BSPS mis-selling victims received FSCS payments of up to £85,000. However, if your pension transfer loss exceeded £85,000, or if the adviser who gave you the advice is still trading and insured, you may be entitled to additional compensation. The FCA's British Steel redress scheme (PS22/14) covers most members advised to transfer between 26 May 2016 and 29 March 2018 — contact us to establish your full entitlement.

Other South Yorkshire claims we handle

We also advise Sheffield and South Yorkshire clients on SIPP mis-selling, investment portfolio negligence, mini-bond mis-selling (including LCF), and APP fraud compensation under the PSR's mandatory reimbursement rules.

The BSPS scandal in numbers

£2.8 billion transferred out of BSPS in 2015–2018
Thousands of South Yorkshire steelworkers affected
FSCS max: £85,000 · FOS max: £455,000 · Court: no upper limit

Guides for Sheffield clients

Areas we serve

Sheffield Rotherham Barnsley Doncaster Chesterfield Worksop Mexborough Stocksbridge

Why choose Edward & Amaury Solicitors

SRA-regulated solicitors

SRA No. 800525 — higher protection than a claims management company.

Specialists, not generalists

Financial mis-selling is what we do. SIPP, DB pension, wealth management, mini-bond and APP fraud claims.

UK-wide, remote-first

Consultations by phone or video call — no travel required, same-day response.

No Win No Fee

Nothing upfront, nothing if we lose. Fees capped under SRA rules.

Before you claim — free guides