UK trade unions split over Tata Steel's pension plan

New British Steel Pension Scheme to be offered to UK employees

The biggest trade union in the UK has expressed reservations about Tata Steel’s proposed solution for pension liabilities, even as another union has backed the plan. 

Tata Steel, the country’s largest steel producer, is expected to announce on Friday its plan to detach the existing pension scheme from the business and offer a choice to its employees to either join the Pension Protection Fund (PPF) or be part of a new British Steel Pension Scheme (BSPS).

The company is expected to approach existing members of the scheme in September for the same. According to trade union sources close to the development, Tata