Thousands of people who lost significant sums after the collapse of pre-paid funeral firm Safe Hands Plans Ltd have expressed outrage at the minimal repayments they are set to receive after years of waiting.
Safe Hands, which went into administration in 2022, left 46,000 plan holders owed an estimated £70.6m. Initial repayments of just 8.5p to 12.5p per pound invested are expected by June 2025, according to administrators FRP Advisory.
Derby resident Denise Hudson, 58, paid nearly £2,500 in 2017 for a funeral plan she believed was “fool proof.” She described the situation as a “slap in the face,” adding, “we paid in full. We need the full money back. Everyone will still lose an awful lot”.
Hudson, who faced the deaths of her mother and brother in 2024, said she trusted Safe Hands to spare her family the burden of arranging her funeral. “Instead, I’ve been left angry and embarrassed,” she said, accusing the firm’s bosses of acting “underhandedly and ruthlessly.”
Other plan holders echoed similar sentiments. Sandie and David Beatty, from Nottinghamshire, paid £3,395 in 2017. Mrs. Beatty, 73, said that “compared to what we put in, what we’ll get back is a tiny amount. It might just buy a pizza”. Her husband, David, 80, added that they “want justice, but realistically, we won’t get our money back”
Aimee Geary, 50, from Leicestershire, paid £3,000 for her plan in 2017, hoping to save her family future expenses. “I thought I was doing the right thing,” she said.
Heather Mould, 77, and her partner Mike, who paid £3,500 each for their plans, said learning about the collapse was “a significant loss” but were relieved they could make alternative arrangements before either of them passed.
Administrators FRP Advisory said the case has been complex, involving legal actions in the UK and abroad, including in the Cayman Islands, to trace funds. To date, £11.4m has been recovered, with at least £1.6m ringfenced for initial repayments.
The Serious Fraud Office (SFO) has launched a criminal investigation into alleged fraud by Safe Hands and its parent company, SHP Capital Holdings Ltd.
Both David Milson and Richard Philip Wells, former owners of Safe Hands, declined to comment when contacted by the BBC.
