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 PS22/13 redress programme specifically addresses BSPS transfers — 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
Areas we serve
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. FCA fee cap applies (PS21/18).
Before you claim — free guides