The £3bn Merchant Navy Officers Pension Fund (MNOPF) has insured around 2,500 pensioner members in a £490m buy-in with Legal & General (L&G).
Rory Murphy, trustee chairman of the Merchant Navy Officers Pension Fund (MNOPF), says trustees must do more to share best practice in bid to improve outcomes.
Rory Murphy, trustee chairman of the Merchant Navy Officers Pension Fund, tells Stephanie Baxter why trustees must take more responsibility and not shift blame onto advisers and managers.
Much of the industry has praised the regulator for striking a deal with Sir Philip Green over the BHS schemes and expressed a degree of relief.
The Merchant Navy Officers Pension Fund has raised its funding level by 10% since 2012.
The £2.7bn Merchant Navy Officers Pension Fund (MNOPF) has improved its funding level to 79% after increasing its liability hedging ratio to 95% of assets.
Merchant Navy Officers Pension Fund (MNOPF) will close its defined benefit (DB) scheme to future accrual and instead introduce a 30% defined contribution (DC) rate for members.
Ensign Pensions is to stop providing services to the Merchant Navy Ratings Pension Fund (MPRPF) over concerns conflicts of interest.
The Ensign Retirement Plan, an industry-wide defined contribution (DC) scheme for the shipping sector, opens for business tomorrow.
Government keen to soften the blow on departing sponsors