MERCHANT NAVY RATINGS PENSION FUND MNRPF - BENEFICIARY TRUSTEE DIRECTOR ELECTION

My Ref: MRP 23/1

30th November 2020

Circular Num: NP/294/20

To: The Secretary All Shipping Branches & Regional Councils

Dear colleagues,

MERCHANT NAVY RATINGS PENSION FUND (MNRPF) - BENEFICIARY TRUSTEE DIRECTOR ELECTION

I refer to my previous Circular, NP/210/20, 26th August 2020, following the closing date for nominations for the two Beneficiary Trustee Director (BDs) positions on the MNRPF Trustee Board, I can advise that three nominations have been received. Two nominations have been received for the Pensioner Member Director position and one for the Full Membership Director position. I can report that all three nominations received are from the previous BDs.

In light of the Pension Regulator’s intervention earlier in 2020 which resulted in the entire MNRPF Trustee Board being removed and replaced your National Executive Committee on 26th November 2020 noted and adopted the following report:

“We note that following the closing date for nominations only three nominations were received from former Beneficiary Trustee Directors.

In light of the action taken by the Pensions Regulator earlier in the year we instruct the General Secretary to write to the Regulator informing them of the outcome of the nomination process and advising that unless they believe that these individuals are not “fit and proper” to be trustees the RMT will be processing their nominations accordingly.

Shipping Branches to be advised.”

I will keep you updated on developments.

Yours sincerely,

Mick Cash
General Secretary