Tata Steel agrees deal to offload British Steel pension fund

Tata Steel agrees deal to offload British Steel pension fund

Tata Steel reworks UK pension scheme affecting 1,30000 employees

Tata Steel has agreed a deal to restructure its 130,000 member British pension fund after nearly a year of negotiations. The UK steelmaker, part of the Indian conglomerate, said it had approval from regulators and the trustees of the £15bn British

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
North Lincolnshire's estimated 20,000 stake-holders in the British Steel Pension Scheme (BSPS) to be given a choice of old or new to protect their investments. Share; Comments. ByNick Cole. 15:37, 11 AUG 2017; Updated 15:44, 11 AUG 2017. News.

A deal to cut Welsh steelworkers' pensions drawn up amid the crisis that faced Port Talbot steelworks has finally been agreed. Tata Steel UK has confirmed it has agreed a deal to separate at itself from its longstanding pension scheme – the £15bn …

Tata Steel UK has finally signed the regulated appropriation arrangement for the pension scheme. The new arrangement will provide more sustainable options to the firm's employees and pensioners.

The formal confirmation of the agreement could pave the way for Tata to merge its European operations with a German rival. 13:43, UK, Friday 11 August 2017. Steel works in Port Talbot, South Wales. Image: Tata Steel's UK operations include the Port …

Tata Steel inches closer to Europe JV as pension woes set to end

The Times: The potential merger of Tata Steel's European operations with a German rival has cleared a significant hurdle with a deal to offload its £15 billion British pension scheme. Financial Times: An unofficial blacklist of some of London's top … . This is the full statement published by Aberavon MP Stephen Kinnock after the future of thousands of steelworkers' pensions were secured when Tata agreed to separate its British pension scheme from the rest of the company, which could pave the way for …

Tata Steel completes UK business pension deal

Under the agreement announced on Friday, Tata Steel UK has offered to pay 550 million pounds into the now-closed BSPS and give the fund a 33 per cent stake in its UK business. – Reuters file picture. x. Under the agreement announced on Friday, Tata. Tata Steel UK (TSUK) has confirmed it had signed documentation for a pact with the Trustees of the £15 billion British Steel Pension Scheme, which will allow the steelmaker's pension scheme to be separated from the business, reducing the risks to the. The UK pensions regulator has given the go-ahead to Tata Steel UK's plan to restructure its pension scheme as part of efforts to stave off insolvency. business Prasun Sonwalkar Hindustan Times, London. File photo of … . Tata Steel, the Indian conglomerate whose large British pension fund has been at the centre of talks over the future of its troubled UK business, has agreed a deal with regulators to offload the scheme. Tata acquired Corus, the former British Steel, in …

Saturday Papers: Tata Steel pensions deal paves the way to merger

The deal also addressed one obstacle to a proposed merger between Tata's British businesses and Germany's Thyssenkrupp. Tata Steel and British authorities said on Friday they have agreed on a plan to restructure the firm's British pension scheme. . Tata Steel UK has signed a regulated apportionment arrangement (RAA) with the trustee of the £15 billion ($19.5 billion) British Steel Pension Scheme (BSPS) that will separate the pension from Tata Steel UK, in exchange for of £550 million and 33 …

Tata Steel signs agreement for new pensions deal

Tata Steel signs agreement for new pensions deal
Tata Steel announced that the key commercial terms of a RAA had been agreed in principle between Tata Steel UK and the Trustee of BSPS. By: FE Bureau | Mumbai | 0. Shares. Facebook · Twitter · Google Plus

Tata Steel Ltd has received regulatory approval for a deal to cut its UK pension scheme liabilities, it said on Friday, paving the way for a possible merger between its British and European steel businesses and those of Germany's Thyssenkrupp. The … . The British Steel Pension Scheme (BSPS) will finally be separated from Tata Steel, ending a long-running pensions saga between pension holders and the business. The Pensions Regulator has given its initial approval to the restructuring of the defined. The final move to secure the pensions of tens of thousands of steelworkers – many of them in the Black Country – has been announced, ending any fresh doubts about future payments. Subscribe to our daily newsletter. Sign Up. Tata Steel's distribution …

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