My Ref: MRP 23/1 16th February 2022
To: The Secretary All Shipping Branches & Regional Councils Circular Num: NP/045/22
MERCHANT NAVY RATINGS PENSION FUND (MNRPF) – ILL HEALTH COURT CASE
Many of you will be aware that the long running Ill Health Early Retirement (IHER) Court Case settlement hearing which was due to take place on 22nd November 2021 was postponed at the last minute as the lawyers acting on behalf of the Trustees of the fund discovered several potential areas where benefits had been wrongly calculated. The reason for these errors are numerous but are currently under investigation.
As these benefits issues could have had a bearing on the final outcome of the IHER Court Case it was agreed to postpone the hearing until further investigations had been carried out.
While we understand the Trustees are still investigating a number of potential arrears where benefits have been wrongly calculated since the late 1980’s I can report that it is certain that many members are going to have to have their benefits reviewed. It is estimated that the cost of reviewing and correcting members benefits will run into tens of thousands of pounds which will have to be picked up by the sponsoring employers of the fund.
However, while the Trustee’s investigations are ongoing, I can report that we are advised that the IHER Court Case is now due to take place week commencing 21st February 2022. This is clearly good news, and while well over due it is anticipated that the outcome of the Court Case will result in many members of the fund receiving the benefits to which they are entitled to.
For further information please click on the following MNRPF website link: https://www.mnrpf.co.uk/docs/Letter_to_Members_220119.pdf
Merchant Navy Ratings Pension Fund Trustees Limited
GMP Reconciliation and Equalisation A Guaranteed Minimum Pension (GMP) is a pension element which some schemes provide as an alternative to the State Earnings Related Pension (SERPS) which formed part of State pension
I will keep you updated on developments.