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| Version 4 | Version 5 |
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| Pension funds unaccounted for | Pension funds unaccounted for |
| (7 months later) | |
| Millions of pounds is unaccounted for in two pension schemes. | Millions of pounds is unaccounted for in two pension schemes. |
| BBC Radio 4's You & Yours has spoken to people cold-called by Liverpool-based salesmen and persuaded to "unlock" their frozen pensions, with promises of cash upfront, and high returns. | BBC Radio 4's You & Yours has spoken to people cold-called by Liverpool-based salesmen and persuaded to "unlock" their frozen pensions, with promises of cash upfront, and high returns. |
| But the BBC has heard support staff were encouraged to lie repeatedly to worried scheme members. | But the BBC has heard support staff were encouraged to lie repeatedly to worried scheme members. |
| These sales companies are no longer trading, but former bosses deny wrongdoing. | These sales companies are no longer trading, but former bosses deny wrongdoing. |
| More than five hundred people were persuaded to transfer more than £20m into the two schemes - Henley Retirement Benefit Scheme and Capita Oak. | More than five hundred people were persuaded to transfer more than £20m into the two schemes - Henley Retirement Benefit Scheme and Capita Oak. |
| Henley promised a tax free lump of 25% on the member's 55th birthday, while Capita Oak offered up to 15% cash upfront - regardless of age. | Henley promised a tax free lump of 25% on the member's 55th birthday, while Capita Oak offered up to 15% cash upfront - regardless of age. |
| Both schemes promised a guaranteed return by investing the money in Lancashire storage company, Store First Ltd, part of Group First. | Both schemes promised a guaranteed return by investing the money in Lancashire storage company, Store First Ltd, part of Group First. |
| But many have struggled for months to receive payments, or get any details of where their pensions are and whether the promised return has been added. | But many have struggled for months to receive payments, or get any details of where their pensions are and whether the promised return has been added. |
| The Liverpool-based sales companies - including Sanderson Clarke Ltd and Jackson Francis Ltd - have now ceased trading, leaving clients with no contact details. | The Liverpool-based sales companies - including Sanderson Clarke Ltd and Jackson Francis Ltd - have now ceased trading, leaving clients with no contact details. |
| In the case of Henley Retirement Benefit Scheme, BBC Radio 4's You and Yours has learned of at least 150 people who transferred more than £9 million. | In the case of Henley Retirement Benefit Scheme, BBC Radio 4's You and Yours has learned of at least 150 people who transferred more than £9 million. |
| Jane Parker from Kidderminster was first contacted by a sales agent in early 2012. | Jane Parker from Kidderminster was first contacted by a sales agent in early 2012. |
| "I had a cold call from a company called Sanderson Clarke, a gentlemen called Dominic, about unlocking frozen pensions, and I agreed to look into it," she says. | "I had a cold call from a company called Sanderson Clarke, a gentlemen called Dominic, about unlocking frozen pensions, and I agreed to look into it," she says. |
| "Once they looked into my pensions and said yes, they can be unlocked, they sent a chap called Ian round to have a chat with me. | "Once they looked into my pensions and said yes, they can be unlocked, they sent a chap called Ian round to have a chat with me. |
| "He said he was an independent financial adviser, but he only explained about this company called Group First, and that I'd get this 8% return. | "He said he was an independent financial adviser, but he only explained about this company called Group First, and that I'd get this 8% return. |
| "It sounded very good and very believable." | "It sounded very good and very believable." |
| Jane says one of her frozen pensions - worth £30,000 - was transferred into the scheme. | Jane says one of her frozen pensions - worth £30,000 - was transferred into the scheme. |
| "The letter from Henley Retirement Benefit Scheme looked very legitimate," Jane says, "with a registered number, with Her Majesty's Revenue and Customs written on it." | "The letter from Henley Retirement Benefit Scheme looked very legitimate," Jane says, "with a registered number, with Her Majesty's Revenue and Customs written on it." |
| She has since heard nothing from either Sanderson Clarke or Henley Retirement Benefit Scheme. | She has since heard nothing from either Sanderson Clarke or Henley Retirement Benefit Scheme. |
| "I was getting concerned I hadn't heard anything so I tried to ring but nobody ever got back to me." | "I was getting concerned I hadn't heard anything so I tried to ring but nobody ever got back to me." |
| 'Nothing' | 'Nothing' |
| Eventually the line went dead, Jane says. Now she has no contact details at all. | Eventually the line went dead, Jane says. Now she has no contact details at all. |
| "I have nothing, no paperwork whatsoever. This is my little pot of money for when I retire, so what I'd like to do is take all that money and put it into a legitimate scheme" | "I have nothing, no paperwork whatsoever. This is my little pot of money for when I retire, so what I'd like to do is take all that money and put it into a legitimate scheme" |
| Steve Lomas, from Swinton in Greater Manchester, had a similar experience. | Steve Lomas, from Swinton in Greater Manchester, had a similar experience. |
| He was persuaded to transfer his £60,000 local authority frozen pension pot into the Henley scheme in the spring of 2013. | He was persuaded to transfer his £60,000 local authority frozen pension pot into the Henley scheme in the spring of 2013. |
| He was told he would receive a 25% tax free lump sum after his 55th birthday later that year. | He was told he would receive a 25% tax free lump sum after his 55th birthday later that year. |
| Nothing happened. For a year he called and emailed Sanderson Clarke repeatedly - but they did not phone back. | Nothing happened. For a year he called and emailed Sanderson Clarke repeatedly - but they did not phone back. |
| He did eventually receive his lump sum, after the BBC made enquiries. He is still unsure where his remaining money is. | He did eventually receive his lump sum, after the BBC made enquiries. He is still unsure where his remaining money is. |
| Illegal | |
| Graham Williams from Cardiff was persuaded by the Liverpool sales agents to transfer his £117,000 frozen pension into the Capita Oak scheme. | Graham Williams from Cardiff was persuaded by the Liverpool sales agents to transfer his £117,000 frozen pension into the Capita Oak scheme. |
| Unlike the Henley scheme members, he received 15% cash up front, almost immediately, although he was only 48, and payments before 55 are illegal. | |
| He, too, has since heard nothing about where the rest of his pension is. | He, too, has since heard nothing about where the rest of his pension is. |
| A former employee of the Liverpool sales companies told Shari Vahl from "You & Yours" that staff were frequently told to fob off pension members - many of whom became increasingly desperate. | A former employee of the Liverpool sales companies told Shari Vahl from "You & Yours" that staff were frequently told to fob off pension members - many of whom became increasingly desperate. |
| "Basically I was getting told to lie to them," the employee said. | "Basically I was getting told to lie to them," the employee said. |
| "It just got too much just listening to grown men crying, literally breaking down on the phone. | "It just got too much just listening to grown men crying, literally breaking down on the phone. |
| "It was not nice at all." | "It was not nice at all." |
| The former employee claims managers lied to clients "millions of times". | The former employee claims managers lied to clients "millions of times". |
| It was "things like, I'll follow up the call , I'll give you a call back, I'm writing it into my diary right now" | It was "things like, I'll follow up the call , I'll give you a call back, I'm writing it into my diary right now" |
| "They weren't writing anything into their diary, they didn't even have a diary." | "They weren't writing anything into their diary, they didn't even have a diary." |
| The former boss of the sales companies, Stuart Chapman Clark, denies these allegations. | The former boss of the sales companies, Stuart Chapman Clark, denies these allegations. |
| Danger | Danger |
| Another person who transferred their pension to Henley - Tony Helps - became so angry he chained himself to building of the Liverpool sales companies and contacted the media. | Another person who transferred their pension to Henley - Tony Helps - became so angry he chained himself to building of the Liverpool sales companies and contacted the media. |
| His gesture largely worked, and his pension was transferred out of the scheme minus £4,000 - which no-one can explain. | His gesture largely worked, and his pension was transferred out of the scheme minus £4,000 - which no-one can explain. |
| The BBC investigation has discovered a web of companies behind the schemes. | The BBC investigation has discovered a web of companies behind the schemes. |
| The deal to invest Henley Retirement Benefit Scheme money into Store First was brokered by Stuart Chapman Clark, who ran the Liverpool sales companies, and who has denied any wrong-doing. | The deal to invest Henley Retirement Benefit Scheme money into Store First was brokered by Stuart Chapman Clark, who ran the Liverpool sales companies, and who has denied any wrong-doing. |
| The BBC did speak to the man who runs the storage company, Store First Ltd, Toby Whittaker. | The BBC did speak to the man who runs the storage company, Store First Ltd, Toby Whittaker. |
| He confirmed Stuart Chapman Clark came to him with a third of the £9m transferred into the Henley pension scheme, about £3.5m. | He confirmed Stuart Chapman Clark came to him with a third of the £9m transferred into the Henley pension scheme, about £3.5m. |
| Mr Whittaker said that money was invested in Store First. | Mr Whittaker said that money was invested in Store First. |
| Mr Whittaker said he paid the guaranteed return - 16% - as promised, up front, on day one. | Mr Whittaker said he paid the guaranteed return - 16% - as promised, up front, on day one. |
| But he claims he paid it to a company based in Gibraltar, Transeuro Worldwide Holdings Ltd. | But he claims he paid it to a company based in Gibraltar, Transeuro Worldwide Holdings Ltd. |
| Cold calls | Cold calls |
| The BBC has tried and failed to make contact with that company. | The BBC has tried and failed to make contact with that company. |
| Millions of pounds remain unaccounted for. | Millions of pounds remain unaccounted for. |
| Experts say the case highlights the dangers of responding to cold calls, and allowing your pension to be invested in unregulated investments sold by unregulated advisers. | Experts say the case highlights the dangers of responding to cold calls, and allowing your pension to be invested in unregulated investments sold by unregulated advisers. |
| "Always, always check that the people you are dealing with are authorised by the regulator, the Financial Conduct Authority," says Tom McPhail, head of pensions research at Hargreaves Lansdown. | "Always, always check that the people you are dealing with are authorised by the regulator, the Financial Conduct Authority," says Tom McPhail, head of pensions research at Hargreaves Lansdown. |
| "If they aren't regulated don't deal with them however plausible they seem or enticing the deal they're offering. | "If they aren't regulated don't deal with them however plausible they seem or enticing the deal they're offering. |
| "Don't deal with unregulated advisers and don't put your money into unregulated investments; remember, if it looks too good to be true, it probably is." | "Don't deal with unregulated advisers and don't put your money into unregulated investments; remember, if it looks too good to be true, it probably is." |
| You can hear the special edition of You and Yours here and there will be a special report on BBC Wales X-ray.programme at 19:30 | You can hear the special edition of You and Yours here and there will be a special report on BBC Wales X-ray.programme at 19:30 |