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Some Key Points
- Choosing to transfer to the successor scheme will give some members the potential to receive higher benefits than if they stayed in the BSPS on its entry to the PPF.
- It is important that scheme members receive clear information about the options now open to them, and are given the advice and guidance that they need to make the choice as to whether to join the new pension scheme or remain in the existing scheme, and eventually have benefits paid by the PPF.
- The separation from the scheme could remove the last hurdle to a merger of the group’s European steelmaking operations with those of German rival ThyssenKrupp.
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