'Steelworks pension holders were fleeced by financial vultures'

Financial "vultures" have "fleeced" pension holders out of up to £1m each, according to MP Frank Field.

Birkenhead's Mr Field is chairman of the Work and Pensions Select Committee.

It has compiled a report into the closing of the British Steel Pension Scheme, which had 124,000 members and obligations of £14bn.

He said some people have lost "their most valuable asset".