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21-Apr-08 10:15 [Pensions]
Sacked staff lose pension funds Staff who were sacked by an engineering firm after it went bust have discovered £100,000 is missing from their pension fund.
Workers at Texol Technical Solutions are now demanding the police look into the matter and it is feared that around 85 former employees have lost up to £1,500 each, reports the Sunday Mail.
Paul Keeble, Standard Life spokesman, said: "Texol Technical Solutions pension contributions stopped on November 1, 2007 and that between £85,000 and £90,000 has not been paid."
He added that the Pensions Regulator will now "investigate the situation and will be in correspondence with the employees".
According to members of staff at the firm, the employees who were being made redundant were called into a room and told they were being released with immediate effect.
Standard Life was established in 1825 and its first company act was passed by parliament in 1832.
Texol Technical Solutions is based in Dundee.
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