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Merchant Navy Officers Pension Fund

Retirement at Normal Pension Age

When you reach Normal Pension Age (NPA) you can choose to take your retirement pension immediately.

Your annual pension will be calculated as:

Image showing calculations described in the caption.

1/40 x ARPS x Service before 1 April 1997,
plus 1/60 x ARPS x Service between 1 April 1997 and 30 September 2000,
plus 1/80 x Post-2000 ARPS x Service from 1 October 2000,
plus Old Section (pre 6 April 1978) pension

If you qualify for the Additional One Year’s Credit, your pension will be increased by 1/40 x ARPS.

The MNOPF benefits described on this website are for your guidance only.  The actual amounts of benefit you will receive are determined from the MNOPF Trust Deed and Rules. The amounts can vary according to your individual circumstances and, in some cases, are dependent on the dates you were a member of the Fund.  Therefore, this site should be used as a source of general information only, with your individual entitlement being calculated and paid in accordance with the Trust Deed and Rules.

If you were an active contributing member of the MNOPF at 31 March 2016, contributed to the Ensign Retirement Plan (for the MNOPF) from 1 April 2016 to 31 march 2018, and you continue to contribute to the Ensign Retirement Plan from 1 April 2018, your deferred benefits within the MNOPF will be increased by an additional 1.5% per annum compound on top of the normal statutory revaluation that applies to deferred pensions. This will apply for each year that you remained an actively contributing member of the Ensign Retirement Plan until contributions ceased with effect from 31 March 2023, up to your Normal Pension Age. For members who remained active contributors in Ensign at 31 March 2023, the additional 1.5% per annum revaluation will continue until Normal Pension Age.

Will my pension receive increases?

Once your pension starts, certain parts of your pension may be granted increases. See Pension payments for more details.