December 7, 2016 / 5:25 PM / 10 months ago

BRIEF-Trustee board of British Steel Pension Scheme sees PPF lifeboat "most likely outcome"

Dec 7 (Reuters) -

* Trustee -closing bsps is an important step in preparing scheme for future and securing a better outcome for members than entry into ppf can offer

* Trustee board of british steel pension scheme (bsps) says believes today’s announcement that tata steel uk limited (“tsuk”) is to begin consultation on closure of british steel pension scheme (“bsps” or “scheme”) is an important step in securing best outcome for scheme members.

* Trustee board believes that entry into ppf (pension protection fund) remains most likely outcome for british steel pension scheme

* Bsps trustee board- this is unless benefits are modified so that scheme no longer has a deficit and has adequate reserves to cover residual risks.

* Bsps trustee says is in constructive discussions with tata steel, hm government and pensions regulator about options in consultation Further company coverage: (Reporting By Carolyn Cohn)

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