Pensioners who lost money from the Norton Motorcycle pension schemes have finally been compensated. More than 200 people who had been defrauded after Norton boss Stuart Garner (above), invested pension assets in Norton Motorcycle Holdings have had their money returned by the Pension Protection Fund, with more than £9.4m refunded.
The news comes at the end of a decade-long saga, with concerns over the Norton pension schemes raised as far back as 2012. In March 2022, Garner received three 12-month jail sentences suspended for two years after admitting illegally investing £11m into his business from the pension funds.
Norton has since been bought by Indian giant TVS Motors and has no relationship with Garner or the previous ownership regime.