P&O Ferries confirms pension payments to MNRPF
We are delighted to share some good news with you. P&O Ferries has paid all the contributions it owes to your Fund in full, helping the Trustee provide retirement benefits for c15,000 current and deferred pensioners.
P&O Ferries has now made all outstanding payments due under past actuarial valuations (the regular financial health checks carried out on the Fund) to the MNRPF. This removes a liability in excess of £90 million. This debt arose from historical Fund deficits associated with P&O Ferries companies as participating employers within the Fund.
This payment gives the Fund extra clarity as the Trustee carries out the Fund’s actuarial valuation, as at 31 March 2026, and continues developing the Fund’s future strategy.
Kasper Moos, CEO of P&O Ferries, said: “Settling this liability to the MNRPF is the right outcome for the Fund’s members, and we’re pleased to have been able to do so in full. This is a significant milestone as we continue delivering our business transformation.”
MNRPF Chair Donald Fleming added: “We are delighted to have received all historical contributions owed by P&O Ferries to the Fund. This puts us in a strong position looking ahead to the upcoming 2026 valuation, boosting security for members’ pensions, as well as mitigating risk for other participating employers. The Trustee maintains a close dialogue with P&O Ferries, alongside other participating employers, as we continue to plan the Fund’s future strategy.”
