Seafarers' pension schemes

Seafarers' pension schemes are retirement savings plans specifically designed for individuals working in the maritime industry. These schemes provide financial security for seafarers after they have completed their careers at sea. Contributions may come from both the workers and their employers, and the funds are invested to grow over time. Upon retirement, seafarers receive regular payments, helping them maintain a stable income. These schemes recognize the unique challenges and lifestyle of maritime work, ensuring that seafarers have support during their later years when they are no longer working on ships.