Some pension clients of Custom House Capital, the investment manager put into administration by the Central Bank in 2011 for misuse of customer funds, have erroneously received compensation cheques made payable to themselves instead of to their pension fund, it has emerged.
According to pension trustee James Kavanagh, managing director of Trustee Decisions, whose clients were affected by the mistake, recipients of money have to lodge the funds into their pensions rather than cash the cheques...
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