Post by Administrator on Feb 11, 2020 16:33:05 GMT
Merchant Navy pensions news.
PIC sails off with £1.6bn Merchant Navy pensions
One of the UK's biggest specialist pension insurers is embarking on a £1.6bn deal to take over retirement funding obligations from the Merchant Navy Officers Pension Fund (MNOPF).
It is the latest in a string of deals undertaken by the trustees of the www.msn.com/en-gb/money/othe...cid=spartanntp, which was set up in 1937 to provide retirement and death benefits for shipping companies' officers.
MNOPF struck its first pension insurance deal in 2009 with a company that subsequently became part of Legal & General, and has since signed further deals of varying size and complexity.
The naval scheme has approximately £3bn in liabilities overall.
LINK
PIC sails off with £1.6bn Merchant Navy pensions
One of the UK's biggest specialist pension insurers is embarking on a £1.6bn deal to take over retirement funding obligations from the Merchant Navy Officers Pension Fund (MNOPF).
It is the latest in a string of deals undertaken by the trustees of the www.msn.com/en-gb/money/othe...cid=spartanntp, which was set up in 1937 to provide retirement and death benefits for shipping companies' officers.
MNOPF struck its first pension insurance deal in 2009 with a company that subsequently became part of Legal & General, and has since signed further deals of varying size and complexity.
The naval scheme has approximately £3bn in liabilities overall.
LINK