Union welcomes Stena Line's pension move

16 October 2018

Nautilus has welcomed the news that the Stena Line UK Group has chosen the specialist maritime industry pension scheme Ensign to be its main defined contribution pension provider for the majority of its employees, both seagoing and shore-based.

Ensign already has more than 80 maritime industry employers using its services and the transfer of approximately 2,200 active and deferred members from Stena Line will double Ensign membership to 4,450, while increasing its assets under management to over £100m.

Ensign chief executive, Andrew Waring, said: 'This is a huge vote of confidence in Ensign from one of the biggest names in the global shipping and maritime sector. We are run by and for the industry, and I am delighted that growing numbers of maritime companies are coming on board, with all the benefits that brings both for them and for their employees.'

Nautilus national ferry organiser Micky Smyth commented: 'This is excellent news and Nautilus firmly believes that companies should recognise that joining this industry-wide scheme is an effective recruitment and retention tool for their number one asset -- namely their employees, who are highly skilled maritime professionals.'


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