DETECTIVES from Durham Constabulary’s economic crime unit have confirmed they are continuing an investigation in connection with the pension scheme.

A spokesman for Durham Constabulary said: “A police investigation has been ongoing since May 2010 conducted by officers from Durham Constabulary’s economic crime unit.

“We have been liaising from the start with the Pensions Regulator and our inquiries are likely to last some considerable time. A number of people have been interviewed but no arrests have been made at this stage.”

A spokesman for Pi Consulting (Trustee Services) Ltd (PTS) who have been appointed as new trustees, said: “Since [being appointed] PTS has endeavoured to regularise the affairs of the scheme, and in doing so worked with the Pensions Regulator and the original trustees and other stakeholders.

“Chartpoint Ltd was put into liquidation on April 18, 2011 and the scheme entered an assessment period for entry to the Pension Protection Fund (PPF).

“Since that time members’ benefits have been paid in accordance with PPF levels of compensation. The original trustees subsequently resigned as trustees effective from October 14, 2011.”

He added: “As of today the scheme has a substantial deficit and the Pension Protection Fund has confirmed that it is eligible to transfer to the PPF. It is hoped that transfer to the PPF will take place during February 2012, which is an exceptionally short period for any scheme and something that is only now permitted following a change in the law that became effective in January 2012 and which allows schemes to transfer within one year.

“Following transfer, the PPF will assume full responsibility for the scheme’s affairs, with PTS providing support in regard to matters ongoing at the date of transfer.”