The Pensions Regulator (TPR) appointed Dalriada Independent Trustees (Dalriada) to the Ethika Auto-Enrolment Pension Scheme (the 'Scheme') on 26 March 2019 because of concerns over the governance of the Scheme by the former corporate trustee, Barclay Cavendish Trustees Limited.
Since 26 March 2019, TPR have been conducting a criminal investigation (Project Athena) into how the Scheme was administered and how the funds were invested. TPR have conducted a number of enquiries including seizing devices and documents relating to the investigation and the individuals involved; analysis of the evidence these devices and documents provided; and initial interviews with key individuals. It is intended that further interviews with key individuals will take place toward the end of 2021.
TPR have also been working closely with Dalriada regarding the scam letter sent to members of other schemes previously under the trusteeship of Barclay Cavendish Trustees Limited asking them to call a telephone number in relation to claims members may have under a scheme where Dalriada act as trustee. TPR would like to reiterate the advice provided in Dalriada’s communication to all members dated 6th May 2021 that members should not call the telephone number provided in the letter as this letter was not sent by Dalriada.
Further updates regarding the criminal investigation will be provided in due course either through Dalriada or on the case updates page.
Help and advice
We would like to take this opportunity to let you know that that if your employees are struggling in any way relating to their membership of the Scheme that there are organisations that can help and support.
This includes:
- Victim support: Supportline 08081689111, live chat available on the website
- Samaritans: Helpline 116 123 (free of charge from a landline or mobile)