1-7 of 7 results for subject:"Merchant shipping"
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To ask the Secretary of State for Work and Pensions, what exposure her Department has to the Merchant Navy Ratings Pension Fund.
To ask the Secretary of State for Work and Pensions, what exposure her Department has to the Merchant Navy Ratings Pension Fund.
The Merchant Navy Ratings Pension Fund is a private sector multi-employer scheme.
To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the effect of P&O’s decision to terminate the employment of 800 of its staff on the future viability of the Merchant Navy Ratings Pension Fund.
To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the effect of P&O’s decision to terminate the employment of 800 of its staff on the future viability of the Merchant Navy Ratings Pension Fund.
The Merchant Navy Ratings Pension Fund (MNRPF) is a private sector, multi-employer scheme.
The UK has a robust and flexible framework for pension scheme funding, to protect members benefits. The accrued benefits of UK P&O staff will be protected by these arrangements. The independent Pensions Regulator is working closely with the trustee of the MNRPF in its role to protect pension scheme savers. It would not be appropriate to comment further at this stage.
To ask the Secretary of State for Work and Pensions, how many (a) retired and (b) active seafarers are members of the Merchant Navy Ratings Pension Fund (MNRPF); and what recent assessment she has made of the current valuation of the MNRPF.
To ask the Secretary of State for Work and Pensions, how many (a) retired and (b) active seafarers are members of the Merchant Navy Ratings Pension Fund (MNRPF); and what recent assessment she has made of the current valuation of the MNRPF.
The Merchant Navy Ratings Pension Fund (MNRPF) is a private sector occupational pension scheme and the Department does not collect data about the membership of such private schemes.
The Pensions Regulator, which oversees the funding regime for defined benefit pension schemes, was established by the Pensions Act 2004 on 17 December 2004. It has operational independence and it is not therefore appropriate for Ministers to intervene in its supervision or regulation of individual schemes
One of Britain’s best-known companies, P&O, has failed to pay £140 million that it owes to the merchant navy pension fund. This debt could cause serious problems for the fund, which has 24,000 members who work in a wide range of firms far beyond P&O. Despite P&O owing this enormous sum, the Government have awarded its parent company two lucrative freeport contracts. Will the Minister explain how on earth the Government allowed this to happen? We are getting used to sleaze and cronyism; is this an example of sleaze and cronyism, or is it sheer, unadulterated incompetence?
One of Britain’s best-known companies, P&O, has failed to pay £140 million that it owes to the merchant navy pension fund. This debt could cause serious problems for the fund, which has 24,000 members who work in a wide range of firms far beyond P&O. Despite P&O owing this enormous sum, the Government have awarded its parent company two lucrative freeport contracts. Will the Minister explain how on earth the Government allowed this to happen? We are getting used to sleaze and cronyism; is this an example of sleaze and cronyism, or is it sheer, unadulterated incompetence?
The hon. Gentleman is a member of the Labour party. He will recall that it was the Labour party that set up the Pensions Regulator with operational independence to deal with these matters. He may have forgotten the basis on which the Pensions Regulator was set up, but I have not. It is a matter between the Pensions Regulator and the individual company, but I am sure that he will take that up when he meets the Pensions Regulator.
The hon. Gentleman is a member of the Labour party. He will recall that it was the Labour party that set up the Pensions Regulator with operational independence to deal with these matters. He may have forgotten the basis on which the Pensions Regulator was set up, but I have not. It is a matter between the Pensions Regulator and the individual company, but I am sure that he will take that up when he meets the Pensions Regulator.
The hon. Gentleman is a member of the Labour party. He will recall that it was the Labour party that set up the Pensions Regulator with operational independence to deal with these matters. He may have forgotten the basis on which the Pensions Regulator was set up, but I have not. It is a matter between the Pensions Regulator and the individual company, but I am sure that he will take that up when he meets the Pensions Regulator.
One of Britain’s best-known companies, P&O, has failed to pay £140 million that it owes to the merchant navy pension fund. This debt could cause serious problems for the fund, which has 24,000 members who work in a wide range of firms far beyond P&O. Despite P&O owing this enormous sum, the Government have awarded its parent company two lucrative freeport contracts. Will the Minister explain how on earth the Government allowed this to happen? We are getting used to sleaze and cronyism; is this an example of sleaze and cronyism, or is it sheer, unadulterated incompetence?
To ask the Secretary of State for Work and Pensions, what plans the Government has to ratify (a) the International Labour Organisation Seafarers' Welfare Convention 163 (1987) and (b) the International Labour Organisation Seafarers' Welfare Recommendation 173 (1987); and if he will make a statement; if he will list International...
To ask the Secretary of State for Work and Pensions, what plans the Government has to ratify (a) the International Labour Organisation Seafarers' Welfare Convention 163 (1987) and (b) the International Labour Organisation Seafarers' Welfare Recommendation 173 (1987); and if he will make a statement; if he will list International...