Fishermen 'Have Still Not Received Pension Savings'

Thousands of fishermen in the north of England have still not received funds from their collapsed pension savings scheme, the Hull Daily Mail reports.

The failed payouts have their source in the Humber Fisherman's Pension Scheme, one of the more high-profile savings scandals of recent years. After the savings scheme's failure due to the decline of the fishing industry in the 1970s, all contributors lost their money. However, the scheme has since then been the subject of a government compensation scheme, and insurers have also attempted to trace all the remaining uncompensated workers.

Despite these efforts, thousands of people remain unpaid, due in part to the fact that only the savers' surnames, first initials and dates of birth were available - and not their national insurance details. Cases of the money being paid to companies rather than the individuals themselves - and then being lost again because these firms are themselves defunct - have also been uncovered.

As a result of the confusion, Humberside MP Alan Johnson has now written to the Pensions Regulator in a bid to finally reunite the men with their savings. In the letter, he said: "I think this whole sorry episode should be the subject of an investigation by either the Pensions Regulator or the Ombudsman."