Merchant Navy Pensions Deal Secured

LONDON, UNITED KINGDOM (GaeaTimes.com)-Lane Clark and Peacock which happens to a major pensions consultancy company told the media that according to their prediction Merchant Navy pensions shall witness a change owing to the deal that was signed in between Lucida Insurance and the Merchant Navy Officers Pension Fund. Reportedly, the Merchant Navy pension deal that was signed between the two parties shall witness a 100m buyout which is accordance to the sole decision of Lucida. As a matter of fact, a similar deal of 500m was signed way back in the year of 2009 between the Merchant Navy Officers Pensions Board and the Lucida which guaranteed the pension scheme for all Merchant Navy Pensions Board members.

Andrew Waring; the chief for the MNOPF (Merchant Navy Officers Pension Fund) said that the first contract laid stress upon the security and benefits for the trustee accounts. As of now the recent deal has made it evident that the merchant navy pensions are kept secure and offered full guarantee.

Clive Wellsteed an expert of pension consultancy told the media that with the scoring of the deal between the Merchant Navy Pensions Board and the insurer it is only a matter of time before the Merchant Navy Pension funds hits solvency levels. He also underlined the fact that the funds shall have to wait for some time until the market witness the recover of the equities. The pensions expert also said that it shall be wise for all Merchant Navy Pensions Board Members to keep their membership data up to date so as to avoid any hassle or hindrance that puts a block in the way of the pension funds set for release.