Tata Steel still in talks over UK pension

It is planning a one-time settlement of $663 mn to its UK pensioners

Debt-laden Tata Steel is still in talks with the UK pension protection fund (PPF) over the pension of its employees at the UK operations.

The board of Tata Steel is scheduled to meet tomorrow (Thursday) to discuss fund-raising for the company. 

According to media reports, Tata Steel is planning a one-time settlement of $663 million to its UK pensioners under a new scheme called the Regulated Appointment Arrangement. 

“There is absolutely no change in status with regard to negotiations between Tata Steel and the PPF. But, we expect a solution by July-August,” a trade union source said. 

“The settlement is part of the guarantee