Joint statement from steel unions GMB, Unite and Community on Tata Steel

“We welcome the RAA announcement which includes a commitment that Tata will stand behind a new scheme with reduced annual increases. 

"For over a year our members have feared for their security in retirement, and this announcement helps to bring that uncertainty to an end. 

“We fought to ensure that our members can choose whether they want to transfer to a new modified scheme, underpinned by Tata, or to remain in the BSPS and therefore receive PPF compensation. 

"Now that this choice has been delivered, the company and the trustees must step up to provide the necessary information and guidance to enable every member to make an informed decision in their best interests. 

“Our members have been extremely disappointed at the unacceptable lack of communication in recent months, and this has to change immediately. 

"The company and the trustees must remember they are dealing with people’s long term future, their life savings, and their family’s financial security; it is vital members are given all the support that they need.”