Channel One Financial Planning LLP, trading as Channel One Financial Services

Channel One Financial Planning LLP, trading as Channel One Financial Services is one of the companies associated with claims regarding the British Steel Pension Scheme (BSPS). 

In 2017, many British Steel workers were advised to transfer out of their defined benefit pension into a defined contribution pension, known as a Personal Pension Plan or a Self-Invested Personal Pension (SIPP). 

By transferring to a private pension arrangement, they would have lost the guaranteed benefits already built up in the British Steel Pension Scheme. It may not have been realistic to achieve the same level of benefits from their new plan.

The advice they received may not have been the best advice for them.

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