Shipping Industry Pension Scheme

The Shipping Industry Pension Scheme (SIPS) is a retirement savings plan designed for workers in the maritime sector. It collects regular contributions from employers and employees to build a pension fund. Over time, this fund grows through investments, providing financial security for members after they retire. SIPS helps ensure that those working in the shipping industry have a structured and reliable way to save for their future, offering benefits such as retirement income, and sometimes, additional support if they become unable to work.