Thousands of fishermen will receive no pension because administrators plan to shut down the scheme without locating half their members.
Previous administrators of the scheme failed to write down full names, national insurance numbers and addresses for some members, the BBC reports.
Despite only having the details of half the 12,000 fishermen who paid into the scheme, the Aviva and Capital Cranfield Trustees are about to wind up the scheme.
The remaining £1.8m pot will be shared between known members.
Between 1960 and 1980, fishermen in Aberdeen, Fleetwodd, Grimsby and Hull paid a penny a week into the scheme.
It has since moved around with mergers and acquisitions and is now held by Aviva and run by Capital Cranfield Trustees.
Both companies insist they inherited the problems with the schemes, and point out they have spent £500,000 trying to locate the unknown members.
Hull MP Alan Johnson said the administration of the schemes is a "scandal" and has threatened to bring in the Pensions Regulator (TPR).
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