Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the effect of P&O’s decision to terminate the employment of 800 of its staff on the future viability of the Merchant Navy Ratings Pension Fund.

The Merchant Navy Ratings Pension Fund (MNRPF) is a private sector, multi-employer scheme.

The UK has a robust and flexible framework for pension scheme funding, to protect members benefits. The accrued benefits of UK P&O staff will be protected by these arrangements. The independent Pensions Regulator is working closely with the trustee of the MNRPF in its role to protect pension scheme savers. It would not be appropriate to comment further at this stage.