For the industry, by the industry
We created our pension plan with the sole aim of providing the best possible future for the UK’s vital maritime professionals, of which there are more than 185,000 in a vast array of jobs, from sea to shore.
Seafarers are the lifeblood of the global economy. Without them our economy would be lost at sea.
Pensions are one of the most important benefits to employees, so we want you to be safe in the knowledge that your future is being looked after, whether you’re an employer seeking a secure, high-quality, low-cost pension scheme for your top talent, and or employee wanting to ensure your pension savings are in the right place.
About our Plan
Ensign is a defined contribution scheme which received its Master Trust Authorisation from The Pensions Regulator in September 2019. This means your pension fund is determined by how much employees and employers contribute each month, as well as the money made through the expertise of our investment partners. To ensure members are saving towards a decent retirement outcome, Ensign looks for a minimum combined employer/employee contribution of 10% of member earnings.
Employees can view and make changes to their plans online, 24 hours a day, through TargetPlan. Employers have 24/7 access to the Employer Information Exchange to securely access relevant documents and keep updated on developments with the Plan.
Ensign aims to be the go-to pension plan for the entire maritime industry. Already trusted by 80+ employers, we provide high-quality, low-cost pension savings to thousands of employees.
- We offer some of the lowest management charges in the pensions industry. This, dependent on returns, increases members’ chances of having more in their pension pots on retirement
- We’re not-for-profit. We invest any income in delivering a high-quality pension scheme for you, not in shareholder returns
- We take the strain off internal HR departments. This means employers spend less time keeping up with compliance, legislation and administration, and more time on their business
- We’re here to support mariners regardless of their work patterns. Seasonal workers can keep their pension pots open as they take a break from their employer. Members can continue investing into the same pension pot if they move to a new employer who is also part of the Plan
- Pensions are an attractive benefit when recruiting and retaining staff. Fellow maritime professionals govern this plan to safeguard the interests of the seafaring community