The Financial Services Compensation Scheme (FSCS) is currently paying out £531,000 to those affected by the continuing fallout of the British Steel debacle.

The claims relate to Active Wealth (UK) and were revealed in data released by the FSCS.   

The statistics showed that £442,000 has been issued so far to 14 claimants, after a total of 43 claims closed so far.

Another £89,000 is due to be paid out across another three cases.

The FSCS figures revealed that 17 cases had been rejected and others lacked correct information.

The FSCS has received 211 claims against the firm in total, of which 162 are still open and a further six have been re-opened. 

The figures released by the FSCS showed all claims against Active Wealth (UK), not just those brought by those hit by the British Steel scheme fallout. 

A total of 126 claims amounting to £451,500 related to transfers into personal pensions, while another 42 claims equalling £79,500 related to SIPPs. 

The figures also showed the compensation body had received 34 claims about ‘other pension advice’, four about investment portfolios and two about UCIS.