Pensions

[vic mcclymont]

Saw this posted on another site, anyone know anything about it?

I just read in RMT union paper, because of a ruling they won, merchant seamen with pre 1978 service, may be entitled to credits for each year of service before then, typically 400 pounds for each year, maximum 8 years, and may, if desired, be taken tax free. Has anybody claimed?.

Vic

[Peter F Chard]

I wrote to them a couple of times and am still waiting for a reply, regards Peter in NZ.

[John Callon]

Hope that info is correct Vic as it would net me approx. £7200 which would come in handy. Like two flights back to New York. Peter if you ever do get a reply from them let us know what they say. On the other hand if you have the address where you write to, if you let me know it and I will write to them myself.
Regards
John

[Jim Brady]

John don't be getting yourself excited with your £7.200 he said £400 p.a. maximum for 8 years,£3.200.
Regards.
Jim.B.

[john walker]

I also hope that the above information is true. Why you can only claim 8 years seems a bit unfair ? Still if it is true it looks like Christmas has just come early and I will definitely be pursuing a claim and I suspect joining a very long Queue to do so.

[vic mcclymont]

Try this link. Its the RMT website.
Vic

Rmt Win Pensions Victory For Merchant Navy Rating Pension Fund Members – Pre 1978 Service Credits - rmt

[John Callon]

Just read that again Jim. Did not notice it was for only 8 years max. I wonder why that it is?
Regards
John

[Jim Brady]

It would appear to me that this one off payment is for members of the scheme who are currently in receipt of a monthly pension payment and not for all ex-seamen.Does anybody else read it that way.
Regards.
Jim.B.

[Rodney Mills]

Jim.

It's a bit ambiguous at best. The following first two paragraphs—as I interpret them—refer to a surplus in a pension fund that M.N. ratings including boy ratings, paid in to, I assume, along with our union dues.

The second two paragraphs plus the rest refers to "members", and implies it's for, I assume past and present members of the RMT. The crux of the matter would be was the seaman's union part of the RMT? I confess, I have no knowledge of the M.N. ratings union other than I paid in to it upon paying-off.

That said, if I was wearing my businessman's hat. I would assume that the two opening paragraphs are a preamble explaining where the money comes from and who qualifies, which would be any member of any age who paid in prior to 1978. And, the RMT offers two methods of payment, a pension or a lump sum settlement with a ceiling. I would further assume that RMT is the manager or trustee of the fund and I cannot imagine that the unclaimed fund has become the property solely of the Seamen who are members of the RMT.

Bottom line is I think there is a strong likelihood payment is for all who qualify, but I doubt the RMT is in favor of handling investigation and payment to hoards of ex-seamen who are not currently dues paying members. The Question then becomes...who is?

My edited section 1 para. 1.

These credits were established as a result of a surplus in the MNRPF in the mid 1980’s with the aim to provide scheme members with some form of pension provision for Merchant Navy service before the MNRPF commenced in 1978. These benefits are in the form of fixed pension additions for each year of pre 1978 service, increased while a member remains in service to help protect their real value from inflation.

Service also counts for those individuals who were on the Merchant Navy Establishment Register (the Pool) during their working life but remained a member of the MNRPF.


My edited section para. 2

A member has to be a contributing member of the MNRPF before 5th April 1979, & was either a contributing member or on the ‘Pool on 1st April 1985 which was when the credits were first awarded, subject to a 5 year maximum,

Members who met these conditions at 1st April 1985 qualified for an increase in the maximum credit awarded on 1st April 1987 if they were still at that date a contributing member or on the ‘Pool’. The maximum was increased to 8 years.

Still I've been wrong many times before and it maybe wishful thinking.

Cheers Rodney

[Rodney Mills]

Jim.

On a second reading, I now interpret the second section para. 2. to refer to members of the MNRPF (Merchant Navy Retirement Fund). I think there is a good chance of a claim...but who from?

Cheers, Rodney