ENSIGN RETIREMENT PLAN TO BE TAKEN OVER BY SMART PENSIONS

My Ref: MRP 23/1                                                                            

 

23rd January 2023

 

Circular Num: NP/024 /23

To: The Secretary All Shipping Branches & Regional Councils

 

Dear Colleagues,

 

ENSIGN RETIREMENT PLAN TO BE TAKEN OVER BY SMART PENSIONS

 

Further to Circular NP/003/23, 11th January 2023, following correspondence from Stena Line management we are advised that that they have started a statutory 60-day consultation period with their employees who contribute to the Ensign Retirement Plan “the Plan” in respect of takeover of this occupational pension scheme by Smart Pensions.

 

I would advise that the takeover of the Plan is a classed as a “listed change” under the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 (the main regulations) and therefore participating employers, such as Stena are expected to consult with employees and their representatives. 

 

I can further advise that having approached Northlink Ferries, who are also a participating employer of the Plan, they have informed us that they have also started a statutory 60-day consultation with their employees which started on 27th December 2022.

 

In respect of other participating employers, such as Foreland Shipping and PNTL, we are currently seeking clarification to whether they have started a consultation with employees.

 

While we would expect employers to fully engage with Plan members and their representatives, it is important that members of the Plan also ask questions if they have any concerns. Therefore, if members are unable to get the clarification they can contact the RMT’s Pension Office, Paul Norris, who will try to assist accordingly. Paul can be contacted at p.norris@rmt.org.uk or on 020 7529 8806.

 

While the RMT is unable to give members financial advice we will try to assist where we can on this important issue. 

 

I will keep you advised on developments.

 

Yours sincerely

 

Yours sincerely

 

 

 

Michael Lynch

General Secretary