Nautilus fund

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Originally Posted by robpage

I came Ashore in 1986,Bill , and at that time the job I had with the cooperative was a final salary pension scheme so I commuted by M N O P F and roll it into the Co-operative pension unfortunately a couple of years before I was due to retire the Co-op sold as off to private industry and a final salary pension fund went with it everything got changed to a money purchase so I've not been an active member of the mnopf for 30 years . I do remember a few years ago several ex colleagues were really not happy with some of the things that was happening with the scheme so I felt that I had done the right thing at that time but thank you for the information.

I am looking at the springbok house I had thought that the RMT had a lot more involvement in it so what they appear to do it seems to be that most of the trustees are ex Merchant Navy and that they are attempting to sell off a large portion for development which will then give them upgraded facilities . So I might be looking at them for a respite. Next year but I haven't had chance to get all the details

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John I think it was around 1987 when the government changed the rules on pension schemes. You could at a cost transfer pensions held for you in previous employment into one scheme. I count myself fortunate that the secretary of the harbour pension fund advised me to leave my MNOPF in situ as at that time no other pension fund could match it.
Around that time many people were coerced into leaving the MNOPF and over time lost out as like yourself, these other schemes usually ended up paying out far less.
Bill

I left the Merchant Navy in 1986 and joined the co-op in 1987 I think that when I discuss the scheme as a pensioner on the Co-op scheme I would have got a better deal by transferring over so that's what I did do it gave me the full co-op pension which at the time that I changed over would have been 2/3 of my final salary

#22... In 1986 Rob , I had 16 years further to go before retirement. Even then I was counting the days to when I could escape. For a pastime I used to sit and work out what my pension would be. What went wrong ? All my estimates were a load of old balls. We lived through the most effective smoke screens going , and the proof was there at the end of the day. To crown it all like Brian I have now got to go and pay my tax. The Magna Carta didn’t mean much in 1215 and means even less today. The best you can say on retirement is “ well I at least I survived”.
JS

It is usual for 15 years to be considered for a long service medal. So if any period is needed they are more than likely to stick with figures already in use. I am looking to retire into a RAAFA village, but have to pay a nominal fee to become an associated member of the RAAFA association. Thought a jar of Brylcream might have done it or my service in the ATC at 13, but don’t think they are going to fall for it. If there was a village for old salts and the houses weren’t built for midgets would have seeked solace there , but there aren’t any. Cheers JS.

#21... Bill on working for Seaforth I was on the usual contract and their rules were that they paid into a non contributory pension scheme which was added to your MNOPF. And you retired on 2/3 of salary. However on being made redundant I still assumed that what had been put in this fund would lie there. Various people told be to act quick as Seaforth were only paying out so much. I know people who took what they could and flew the coop. Various excuses such as varicose veins and the likes. I was stupid and my aim was 65 and retire with grace. Which I personally did but not under the British flag which was conspicuous by its absence. I received nowt from Seaforth
Apart from redundancy. Yet John I Jacobs I received a small cash pittance 40 years after leaving them, so Seaforth can still quell their consciences by sending a Cheque, no matter how small, it is the idea that counts not the amount. Although apart from JIJ I never saw a British shipowner who bothered about consciences. Cheers JS

from what I've read the Mariners Park complex and Springbok at Alfold sound a great place to retire to , amongst fellow ex seafarers

Hi John S.
remember Joe Finnegan and his wife Mary, we went to your Barbie at your home about five years ago , Last year he sold up and went to a retirement village not far from you, Loves it, goes swimming, Gym and golfing every day

Hi Rob,
An old mate of mine lived at Springbok, , nice bungalow and all amenities, also good medics if needed.plus surrounded by ex seafaring men and women. had a great time.
He has gone to Fiddlers green now, .
Well worth thinking about.

I am looking for respite next year , I had heard a lot of rumours which appear to be false , seems to have q good reputation and a bar

#21 John S. I have just spent the last hour going through my old papers. When I joined Seaforth you were given an option to join their pension scheme or if you were a member of the MNOPF to continue paying your contributions to that scheme which I did. Looking through my papers of which there seems many to do with changes to pension funds I think these two would be the most relevant, though in the first, the part about the Seaforth Officers' Pension Scheme being a top up over and above MNOPF Scheme I think I lost that part when I terminated my employment.
Bill.

There was an earlier post on this or similar regarding Female MN permitted,
did not hear more on it.

Are ladies allowed ?

K.