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To assist in the complex task of managing the Scheme, the Trustee takes professional advice from a number of different organisations. All of these companies and individuals are experts within their fields and operate within the tight legal requirements governing today’s pension schemes.


The Scheme’s actuary carries out valuations of the Scheme to ensure that the liabilities (what the Scheme expects to pay out in benefits) can be met by the Fund. This section is currently being updated.

Mr C P Burbidge
Watson Wyatt Limited, Consulting Actuaries



The auditor makes a check on the transactions of the Scheme, ensuring that the accounts are correct against the contributions and investment income that have been received and the pensions and other benefits that have been paid out.


Chartered Accountants



The Scheme holds appropriate bank accounts for the transfer and management of money into and out of the Fund; a cash account for paying benefits on an immediate basis and for paying administrative costs.


Royal Bank of Scotland plc


Investment Manager

The Scheme’s investment management is carried out by a separate company which is wholly owned by the Trustee and whose staff work on behalf of British Steel Pension Scheme. These specialists analyse the needs of the Scheme to make good financial returns on the investments it holds, without undue risk.


Pension Services Limited
Centurion House
24 Monument Street
London EC3R 8BS


Medical Adviser

From time to time the Trustee is required to consider whether ill-health benefits should be paid to a member. The Medical Adviser considers the medical evidence in each case and makes recommendations to the Trustee.


Dr V Kisnah



The Scheme’s solicitor advises the Trustee about legal matters relating to the operations of the Trust Deed and Rules, the documents defining how the Scheme works under law.

Mr Paul Stannard, Travers Smith

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