Steel pensions deal 'a rare step'
Media playback is unsupported on your device
Video

Tata Steel pensions deal 'a rare step'

Steel company Tata has formally announced it is to separate its UK pension scheme from the business.

It could mean a potential merger between the Indian-owned firm and the German steel producer ThyssenKrupp is more likely to move forward.

The £15bn British Steel Pension Scheme (BSPS) has been a significant barrier to any agreement.

The deal affects thousands of current and former workers, with 130,000 steel pension scheme members across the UK.

Nicola Parish, executive director for front-line regulation at the Pensions Regulator, explains the options for steel workers and says its involvement was a rare step.

  • 11 Aug 2017
  • From the section Wales
Go to next video: Steel pension deal 'lesser of two evils'