Luton man ‘sick with worry’ over frozen pension pot

Mr Shircore has been unable to retrieve his pension pot
Mr Shircore has been unable to retrieve his pension pot

A Luton man has said that he has ‘not slept for months’ due to ongoing worry over his frozen pension fund.

Shane Shircore, 59, has been left in the dark since June 18 – when his £44,000 London Quantum Retirement Benefit Scheme was frozen due to suspicions of irregular practices.

On that date the Pensions Regulator appointed Dalriada as trustees of London Quantum– to assess whether the scheme was a vehicle for pension liberation.

This practice occurs when customers are charged excessive fees to gain early access to their cash and the rest is sunk into risky investments.

The trustees have said: “If the scheme was used for pension liberation and/or was just a scam, Dalriada will take whatever action it can to recover the funds.”

Five months on and Mr Shircore is still not sure if his fund is safe or not.

He told the Luton News: “Every time I ring Dalriada up they know nothing, I am so worried I have not slept for weeks.

“If my money has gone missing I want to know, I do not think it is fair for me.

“I wanted to pay off some debts but I cannot do anything at all, I am sick with it.”

A Dalriada spokesperson told us: “The current position is that we are dealing with the complaint that Mr Shircore has made under the Schemes Internal Dispute Resolution Procedure and it would not be appropriate to discuss that prior to communicating the outcome to him.

“We will be writing to him shortly.

“We appreciate that delays are frustrating to all the members and we understand the difficulties that the decision to transfer into this scheme has caused for Mr Shircore and indeed the other members.”