Norton pension schemes and the Fraud Compensation Fund inquiry: Work and Pensions Committee to hold first oral evidence session
The Work and Pensions Committee holds the first oral evidence session in its inquiry examining the lessons that can be learned from the experience of the collapse of the Norton pension schemes with the aim of ensuring members of collapsed pension schemes are better protected and supported in the future.
Meeting details
The Committee will hear from those involved in the governance of the schemes, who have been working to secure compensation for members. It will also take evidence from those administering the Norton Motorcycle Company and the bankruptcy of Stuart Garner, who was the sole director of the company and the sole trustee of the pension schemes.
The inquiry will consider The Pensions Regulator’s approach to preventing loss of pension assets through fraud or dishonesty and whether there is scope to speed up the process of assessing eligibility for compensation and making payments. It will also examine the role played by bodies such as the independent trustee, the Pensions Ombudsman and the Fraud Compensation Fund.