Update on ill-health early retirement settlement
As members will know from previous updates, in 2022 the High Court approved a settlement for members who were affected by changes to the Fund’s ill-health early retirement benefits in the 1990s.
As a result, we’ve been working very closely with our advisers and administrators to implement the settlement and pay compensation where due.
Since starting this process, we have:
- paid over £35 million in one-off payments
- increased future yearly pension payments by almost £700,000
Members who are due compensation
We’ve paid almost all the affected members we’ve been able to contact. For members who have died, we’ve paid compensation to around half of their estates. We’re still working on the remaining 100 or so cases for deceased members, gathering the documents needed to make sure we pay the right person.
Total paid to this group:
- Over £24 million in lump sum back payments (including interest)
- Around £600,000 in increases to future yearly pension payments
Members who can claim
We’ve written to over 4,000 members and former members who may be eligible for compensation, inviting them to make a claim.
You may be able to claim if you:
- were in service on 8 October 1993
- had the required length of service (please contact us if you’re unsure whether you qualify)
- left due to ill-health (permanent unfitness for sea service)
Around 10% of those we contacted have submitted claims. Over half of these claims have been accepted, resulting in:
- over £8 million in one-off payments
- approximately £88,000 per year in increases to future pension payments
We’ve separately identified around 1,500 deceased members who may have been affected. We’ve been tracing their estates to let them know about the opportunity to claim:
- around 1,300 claim forms have been issued to estates
- around 25% of these estates have submitted claims
- over £3 million paid to eligible estates in one-off payments
We’d like to thank everyone for their patience and support
Processing claims takes time as we verify medical evidence, paperwork, and payment accuracy. Please respond promptly to any letters from us to help resolve your case more quickly.
If you’d like to see the full settlement details, email mnrpf.mailings@aptia-uk.com and we’ll send you a copy.
