P&O Ferries update

There has been some recent media interest in P&O Ferries and its obligations to the MNRPF. As the Trustee, we would like to take this opportunity to reassure Members that we continue to be confident in the Fund’s financial situation and ability to provide members with their benefits as promised.

In May, we were pleased to announce that, after intense and complex negotiations, we concluded an agreement with P&O Ferries. This announcement followed a period of constructive dialogue with P&O Ferries and its shareholder DP World.

We explained in May that the detail of the agreement must remain confidential, but we can say that our objectives have been materially achieved.

Finally, we continue to hear about members being approached by people encouraging them to transfer their pension out of the Scheme. It is illegal for anyone to cold call you about your pension, so please be very careful if anyone tries to talk to you about this subject. If you have any questions about this, please do contact the Scheme Administrator.

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