Victims of Norton Motorcycles pension fraud paid £9.4m compensation

More than 200 people across three retirement schemes were tricked into losing £11.5m, with some expecting long wait for refunds

The Fraud Compensation Fund has paid £9.4m to the three retirement schemes that collapsed during the Norton Motorcycles pension scandal, more than a decade after victims had seemingly lost their life savings.

The payment represents some long-awaited good news for more than 200 people who fell victim to what is known as “a pensions liberation fraud” during 2012 and 2013, when they were tricked into allowing about £11.5m to be transferred out of their existing retirement plans.