Old British Steel Pension Scheme
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Old British Steel Pension Scheme - overview
Location
Birmingham, -, UK
Primary Industry
Financial Services
About
The Old British Steel Pension Scheme provides pension benefits primarily to former employees of British Steel, ensuring their financial security in retirement through effective fund management and compliance with regulatory standards. The Old British Steel Pension Scheme focuses on offering pension benefits to ex-employees of British Steel. Based in Birmingham, UK, the Scheme underwent a buy-out process in October 2020, transferring full responsibility for member benefits to Pension Insurance Corporation plc. The Scheme has completed one significant deal to date, with the latest funding round being an Add-on of GBP 2 billion led by Pension Insurance Corporation plc.
The Old British Steel Pension Scheme primarily offers pension benefits to its members, focusing on providing financial security in retirement for those associated with the British Steel workforce. The Scheme recently transitioned to a buy-out process with Pension Insurance Corporation, which now manages member benefits and ensures accurate pension payments while adhering to the regulations set by the Pension Protection Fund and other governing bodies. In the most recent financial year 2023, the Old British Steel Pension Scheme reported a revenue of GBP 1,802,028. 90 and an EBITDA of GBP 242,492.
70. The revenue model is centered on managing pension funds and facilitating member benefits, primarily through partnerships with financial institutions like Pension Insurance Corporation, ensuring that funds are appropriately allocated to cover member payouts and operational costs. Looking ahead, the Old British Steel Pension Scheme aims to enhance its pension management services and explore potential partnerships to improve fund performance and member engagement. The recent funding of GBP 2 billion from Pension Insurance Corporation plc will be utilized to strengthen operational capabilities and ensure the stability of member benefits.
The Scheme will continue to focus on compliance with regulations while seeking opportunities for improvements in service delivery.
Current Investors
Pension Insurance Corporation plc
Primary Industry
Financial Services
Sub Industries
Financial Services
Website
www.oldbritishsteelpension.co.uk
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Old British Steel Pension Scheme - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Old British Steel Pension Scheme | - |
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