Stena Line (UK) Defined Contribution Pension Scheme - Deferred Member Nominated Trustee

Dear Colleague,

STENA LINE (UK) DEFINED CONTRIBUTION PENSION SCHEME - DEFERRED MEMBER NOMINATED TRUSTEE

The RMT wrote to the Chairman of the Trustees of the Stena Line Defined Contribution (DC) Pension Scheme on 11^th June 2012 requesting that consideration is given to allowing deferred members of the fund the opportunity to be represented on the Trustee Board. The response received from the Chairman was as follows:

‘’I am always pleased to hear from our members. Please do ask whoever has contacted you to write to me direct in accordance with our normal procedures.’’

While we are disappointed with this response, the Shipping Committee is unable to dictate the structure of the Trustee Board. However, it has highlighted that scheme members have the facility to raise this issue, or indeed others, directly with the Chair of the Trustees.

Please find attached to this circular a letter which has been sent to all Stena Line RMT members to sign and send to the Chairman of the Trustee Board requesting that deferred members are included on the composition of the Trustee Board. This letter of course should only be signed by those who are active, deferred or pensioners in the Stena Line DC Pension Scheme.

I urge all Shipping Branches to encourage Stena Line DC Pension Scheme members to complete the letter and register their support for deferred member representation on the Trustee Board.

Yours sincerely,

Bob Crow,

General Secretary

Stena Line DC Pension Scheme Membership Number

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Date........................................

Ms S Bates

Chairman of the Trustees

Stena Line (UK) Pension Scheme

1 Suffolk Way

Sevenoaks

Kent

TN13 1YL

Dear Ms Bates,

STENA LINE DEFINED CONTRIBUTION PENSION SCHEME TRUSTEE BOARD

As a member of the Stena Line Defined Contribution Pension Scheme, I write to you to express my concern that a section of the funds membership is being denied a voice on the Trustee Board.

I understand that the National Union for Rail, Maritime, and Transport Workers Union recently wrote to you and requested that deferred members are given the opportunity to have a place on the trustee board. I further understand that you have replied by encouraging scheme members to correspond with you directly on this issue which why I have taken this opportunity to write to you.

As I am sure you will agree deferred members make up a significant proportion of the funds membership and because of the risks involved with this type of pension arrangement, i.e. investment based benefits rather than benefits linked to an individual’s salary, it is essential that these members are given the chance to participate in trustee decision. This point is particular relevant in a defined contribution arrangement were the risk is with the member and not the employer.

I would therefore request that the Stena Line (UK) Pension Scheme Trustee Board allow deferred members the opportunity to stand for election as Member Nominated Trustees and that this letter is discussed at the next trustee board meeting.

I look forward to your reply.

Yours sincerely,

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