The chair of a House of Commons committee has written to the Pensions Regulator over Norton Motorcycles.
The Derbyshire-headquartered company, which was established more than 120 years ago, entered administration at the end of January.
Stephen Timms MP, chair of the Work and Pensions Committee, has written to the chief executive of the Pensions Regulator about the three pension schemes – Dominator 2012, Commando 2012, and Donington MC – invested in Norton.
The letter includes questions on the Pensions Regulator’s role in the case, lessons learned from its handling and the possibility of funds being returned to members of the schemes.
Timms said: “Following the recent administration of Norton Motorcycles Holdings Ltd, there has been increased interest in the three pension schemes set-up, as part of a pensions liberation scam, to provide funding for the company.
“The previous trustee [of the three pension funds], Mr Garner, was also CEO of Norton Motorcycles Holdings Ltd, and was replaced by an independent trustee in May 2019.”