1. Graham Jones
    December 24, 2016 @ 11:18 am

    I am one of the 476 innocent members of the hard working public who transferd my Wincanton works pension to Pennines and Mendip.
    My reason was so i could have a loan from them and pay the loan back as well as monthly interest when i reached the age of 55.
    I had no intention of taking money from my pension fund,and that the loan was give on the basis that my pension transfer to them
    was as a garantee that the loan would be paid back in full,at the age of 55.
    My £22,000.00 pension went into the Penines and Mendip scheme and i was told that it would go up or down in value just like any other
    I now have no idea what will happen to my pension and i also recieved a letter off HMRC asking me to pay £6,000.00 back to them.
    Fortunately i wrote back to them and it has been put on hold untill the outcome of the court proceedings.
    My loan was for £7,000.00 and i have been paying back £38.00 per month since 2012.
    Please could you give me any update as to what is going to happen.
    Yours Sincerely.
    Mr G.Jones


    • Pension Life
      January 2, 2017 @ 10:39 am

      Sorry to hear you are a victim of the Pennines and Mendip scam. I will send you an email. Best, Angie


      • Andrew G
        June 6, 2017 @ 1:11 pm

        Hi – I similarly transferred about £25k into the scheme just days before it was taken over by Dalraida. So I never received the promised loan and there’s no sight of my money.

        I call Dalraida on a regular basis but there’s no concrete news.

        Do you have any advice?


        • Pension Life
          June 15, 2017 @ 6:21 pm

          We are in court with Dalriada all next week so will keep you updated once we know the outcome of their application to make claims to have the loans repaid. Did you get a loan? Quite a few people without loans also got tax assessments.


      • John Charles Haydn-Biag
        May 2, 2018 @ 2:13 pm

        Yes the exact thing happened to me
        I am so annoyed
        I want to take my money out now from my pension but these clowns have stopped me .i had around 40k transferred if which I need to start drawing on now


  2. Stephen Challinor
    May 11, 2017 @ 9:17 am

    I also transferred into this scheme a couple of pension totaling just over £33,000. I have e-mailed Dalrida for an update on this as I have now reached 55 and would like to draw down funds.

    It has been over 5 years since they took over the pension fund with very little activity on this since 2014.

    How long should this take to resolve.

    Do you have any update on this.



    • Pension Life
      May 11, 2017 @ 4:51 pm

      Dalriada have been handling Ark for six years now and we are in the High Court with Dalriada on 19th June. Any updates on Pennines should be on the Dalriada website but the last one was April 2016. HMRC are taxing the loans at 55% and the loans may have to be repaid. The Ark court case should have a bearing on that.


  3. Bev Hatton
    August 5, 2017 @ 7:45 pm

    Our story is like Graham Jones above. My husband and I transferred – wait for it – £109,000 between us in 2011.

    We did receive our loan and for a couple of years we were paying the ‘interest’ back at £58 each per month.

    We smelled a rat from the outset after the loan was received, when Hedge Capital said there was a problem with their bank and they couldnt take direct debit or standing order payments. Instead we had to send cheques or make a card payment over the phone each month.

    When the publicity started, Hedge suddenly ceased calling for payments.

    About a year ago, I received a tax demand, but this was put on hold when I explained my side of the story. My husband to date hasnt received one.

    We would like to know where the balance of our pension fund is, does it still exist, and as we are now both 55, is there any hope that we can access what is left?


    • Pension Life
      August 5, 2017 @ 9:33 pm

      What was the name of the scheme you and your husband were in?


  4. Bev Hatton
    August 7, 2017 @ 9:38 pm

    It was the Pennines scheme.


  5. Chris Beverley
    August 14, 2017 @ 1:46 pm

    I also transferred £41k from pension scheme into the Pennine and Mendip scheme back in 2011. I received a loan and made three payments. When it was announced publically I took some legal advice and was told that as it want an official credit agreement regulated by the Consume Credit Act and that no credit search was on my file I would not be liable to make any payments back on the loan, or that they would be able to chase me for it.

    Often I receive the odd letter from Hedge Capital regarding payment but that just gets put in the bin.

    There has been no updates lately from Dalarida. The last time I spoke with them they said any fees owed would come out of my pension pot but hopefully there would be something left to be reinvested into my existing company pension.

    I am 44 and trying to make plans for the futures as I was hoping to have accrued a return of 3.5% annually as originally promised.

    Unlike some of the others I didn’t receive anything regarding having to pay tax back from the HMRC but this does concern me as I cant afford to pay it back should this be necessary. Any info you have would be great.


    • Pension Life
      August 15, 2017 @ 3:03 am

      Will try to get something to you today.


      • Chris Beverley
        August 15, 2017 @ 12:14 pm

        Ok great thanks – will this be via email? or on here?


        • Pension Life
          August 15, 2017 @ 6:30 pm

          No, will send you an email – privately.


  6. A Tait
    October 3, 2017 @ 12:51 pm


    It looks like I too have possibly been caught up in this fiasco as I invested £2OK into either the Pennines or Mendips schemes.

    It has occurred to me that I have had letters from HRMC which I found confusing ie asking for self assessments etc.I’m not aware of any other letters but will be checking any old mail tonight.

    Like someone mentioned above I stopped the payments to Hedge when they wouldn’t accept a standing order and I certainly wasn’t going to be giving my card details under these circumstances then to honest I did get a few letters which I never followed up then forgot all about them when they stopped.

    Not sure what my next move should be.


    • Pension Life
      October 7, 2017 @ 4:36 am

      You need to check to see if you have got a “protective assessment” from HMRC as this will need appealing as a matter of urgency. They will probably have sent you a demand for your “loan”.


      • A Tait
        October 9, 2017 @ 12:44 pm

        Thanks for your advice.

        Like many others I have obviously been led up the garden path on this,what should I be looking to ask of HMRC at this point,just until I get my head around the whole situation ? I like others cannot afford a large pay back to them at this point.



  7. LJC
    October 12, 2017 @ 8:05 pm

    Hi, I invested £40k too with a loan of £15k and was paying it back – I made it clear that I needed to be in an above board agreement – but hey you live and learn. I put HMRC on hold – can you advise me too please re next steps.

    Many thanks.


  8. Edward winder
    December 23, 2017 @ 7:59 pm

    Like many other suffering people in a pension scam like my self I put 45k in to the fund like many others waiting on word back from dalrida trustees waste of time money lost all ready hmrc on to me saying got loan from hedge wrote back to them and sent bank statements to them got back me case was close


    • Edward winder
      December 23, 2017 @ 8:01 pm

      Don’t think we will any of the funds thanks Edward


      • Ann
        January 26, 2018 @ 5:56 pm

        Hope you don’t mind me asking how come HMRC closed your case


  9. Stephen Morris
    January 20, 2018 @ 11:04 am

    I invested pension with Mendip and Pennine did not receive any monies, Dalriada are keeping us all in the dark, Contacted FOS to see if they can help, Any new announcements
    As Dalriada seem to have totally ignored us concerning any contact


  10. Graham Jones
    March 20, 2018 @ 10:18 am

    Regarding Bev Hatton and Husband.
    Dear Bev.
    My heart goes out to you and your Husband, and how you must be feeling not knowing where your hard earned pension has gone.
    After reading your story to my wife she said that sounds very familiar.
    We to were told that loan repayments could not be taken….identical to yours and we stopped making payments of £38.00.
    As with every one this palaver is going on and on and who is paying for the very long court proceedings.
    I too reach 55 in August and all are plans have gone down the drain.
    One thing is sure…..when if ever this massive SCAM is sough ted out i will not be paying both for a loan and a Tax bill because i DID NOT
    take money from my pension……My pension was used as a guarantee on the loan to be paid back on my early retirement at 55.
    All the best Bev to you your Husband and all the other victims.


  11. David Knowles
    June 18, 2018 @ 2:29 pm

    i also have lost 52.000 of my pention through pennines and hedge capital I also have received a tax bill but have received nothing else since i explained i am now 56 and wanted to cash my pention but have being told it doesnt exsist anymore Dalriada arnt very helpfull was to,d i had to provide evidence which i have got do you think we will receive any of our pentions back


  12. Paul Jones
    September 11, 2018 @ 3:41 pm

    I am one of the unfortunate 476 victims I transferred £36000 from my old occupational scheme and was told that my fund would guarantee my loan was paying £66 per month on a £15840 paid 6 months then took advice and was told not to pay anymore, my monies went to Pennine RBS and the correspondence I was getting regarding outstanding loan interest was from Hedge Capital Ltd, not received anymore chase ups since Feb 2014. Have now received a tax bill for £8900 which is deeply worrying and have reported this scam to the FCA and Action Fraud which I have done. I felt so aggrieved at the thought of paying tax on a scam, when I could potentially loose everything I spoke to HMRC today they asked me for all correspondence along with FCA and Action Fraud, it seems they might be putting my tax demand on hold, I do hope so, I am 59 now no pension and a hefty tax bill. Sooo sorry for everyone in this situation


  13. Frank
    December 30, 2018 @ 1:04 pm

    I transferred £60,000 it looks like that has now gone do think we will get anything back . This had dragged on for along time and we are no better off do you have any answers


    • Angie
      December 30, 2018 @ 1:39 pm

      Any money left has probably been taken by Dalriada Trustees. I doubt you will ever see anything coming back to you. Who advised you to transfer to Pennines/Mendip?


    • peter mozelewski
      March 2, 2019 @ 6:43 pm

      I may get my money back. If anyone wants to contact me please do. I have fought a particular issue myself and now await my funds. I hope to perhaps work with a firm of solicitors to bring a group action for members if my case is a good benchmark and if there is a regulated entity to go for as there was in my case. My e mail is pmozelewski@hotmail.co.uk No promises as there were different schemes.


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