The administrator for Safe Hands, FRP Advisory, initially said planholders could receive repayments of between 8.5p and 12.5p for every pound they lost by June 2025.
But after a six-month delay, the amount repaid to those affected by the funeral firm collapse proved to be much less – about 4p for every pound.
Planholders are owed an estimated £70.6m in total.
Among them are Denise Hudson, from Derby, who paid nearly £2,500 for a Safe Hands plan after seeing a TV advert in 2019, and was last year given a cheque for less than £100 by administrators.
“That was my savings. I gave it in good faith. I actually thought what it said on the tin, it is in safe hands,” she said.
Hudson told the BBC she might “frame” the cheque for £96.50, using it as a reminder to keep fighting.
