Maritime Pension Schemes

Maritime pension schemes are specialized retirement plans for individuals working in the shipping and maritime industries. They are designed to provide financial security after a mariner’s career ends, often involving contributions from both the employee and employer. These schemes manage investments to grow funds over time, ensuring members receive regular pension payments in retirement. They may include defined benefit plans, offering a set pension based on salary and service, or defined contribution plans, where benefits depend on investment performance. Overall, they help mariners plan for a secure future, recognizing the unique risks and earning patterns of maritime careers.