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You and Yours: Hundreds search for pensions they transferred after cold calls

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20/10/2014

Hundreds search for pensions they transferred after cold calls

BBC Radio 4 - You and Yours, Hundreds search for pensions they transferred after cold calls

How cold callers convinced hundreds of people to part with millions of pounds in pensions.

Hundreds of people are trying to figure out where their pensions have gone, after salesmen convinced them to transfer with the promise of a great return. With Winifred Robinson.

In a special You and Yours, we investigate a web of companies that sold millions of pounds of pension investments to hundreds of people - and has left many of them desperately trying to find out where their money has gone.

There were a number of companies involved...all of them promised a lump sum upfront and then big returns further down the line.

But You and Yours has spoken to dozens of worried people who have transferred their pensions and then heard little or nothing since.

We've also discovered that many of the people behind these companies are difficult to trace - as is a lot of the money.

What happened raises important questions about the way pensions are regulated.

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