Merchant Navy Officers Pension Plan

MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 1 @ Your benefits explained September 2007

MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 2 @ 00/01 Contents 01 Some terms you need to know 00/01 Some terms you need to know 01 Introducing the Plan 02 Main features of the Plan 03 Joining the Plan 04 Contributions to the Plan 05 How your contributions are invested 06 Your choices at retirement 10 Benefits on Death 11 Leaving the Plan 12 Transferring Benefits into the Plan 13 Temporary Absence and Maternity Leave 14 How the Plan works 15 Further information 16 FORMS Membership Application Form Expression of Wish Form Investment Option Forms Certain terms used in the booklet are explained below and appear in bold type. Normal Pension Age Age 61, but subject to any HM Revenue & Customs restrictions you may choose to retire at any time between 50 and 70. Officer Includes Officers, Cadets, Trainees and such other persons as the Trustee may approve for membership. Salary Your contractual pay received from your employer during the last 12 months. All items of pay are included except noncontractual payments such as discretionary bonuses. Pensionable salary This is the pay on which contributions are calculated. It is the Salary received from your employer less the Lower Earnings Limit. This limit is fixed each April by the Government. For the year beginning on 6 April 2007 it is 4,524.82 ( 84 a week) and is increased annually. State Pension Age The age from which pensions are payable under the State Pension scheme. This is age 65 for men. Currently it is age 60 for women but this is being raised to age 65, the change being phased in over a ten-year period between 2010 and 2020. Plan The Merchant Navy Officers Pension Plan. Trustee MNOPP Trustees Limited, which manages the Plan. Pension Commencement Lump Sum (PCLS) This is the maximum tax-free cash sum that HM Revenue & Customs will allow to be paid from your accumulated fund on retirement.

MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 4 @ 02/03 Introducing the Plan Planning in advance of your retirement is very important because retirement brings with it a major change in financial circumstances and lifestyle. Joining the Plan is one very good way to prepare for that time. State Pensions are not payable until State Pension Age and this, together with the inadequate level of the State Pension, should be recognised in your retirement planning. This booklet explains how you can build up a retirement income through the Plan and how it also provides a lump sum death benefit if you die while a contributing member. It is in your interest to join the Plan. Your employer contributes to your pension as well as paying the cost of the lump sum death benefit and administration expenses. The Plan also offers good value for money providing the same benefits outside the Plan under a personal pension plan would cost you much more at your own expense. The key factors of the Plan include: Continuity of membership the Plan is an industry-wide pension arrangement and membership continues on changing jobs within the industry, provided your new employer also participates in the Plan The whole of your own contributions are invested. Your employer s contributions include the cost of the administration and of providing the lump sum death benefits Your own retirement account Retirement choices include flexibility on how and when your benefits may be taken Protection for your dependants in the event of your death The Plan is set up under a trust. It is managed by a Trustee company, MNOPP Trustees Limited. The full terms of the Plan are set out in the formal documents that govern it the Trust Deed and Rules. The Trust Deed and Rules are overriding and in the event of any inconsistency between information contained in this booklet and the terms of the Trust Deed and Rules, the latter will always prevail. A copy of the Trust Deed and Rules is available from MNPA Ltd (MNPA). The Plan is administered by MNPA. If you have any questions about the Plan and the benefits it provides, please contact MNPA, Leatherhead House, Station Road, Leatherhead, Surrey, KT22 7ET Tel: 01372 386000 Email: mnopp@mnpa.co.uk www.mnopp.co.uk. 03 Main features of the Plan Portability Retirement Benefits Industry-wide scheme for A pension on retirement Merchant Navy Officers, purchased from your cadets and trainees retirement account Membership continues on Tax-free cash lump sum changing jobs within the (PCLS Pension Commencement industry, provided your new Lump Sum) employer also participates in Guaranteed pension increases the Plan Spouse s or dependant s Contributions pension option You pay 3.9% of The flexibility to retire early Pensionable Salary Your employer pays 5.1% Death Benefits of Pensionable Salary, which Before Retirement covers payment into your Life assurance benefit of three retirement account, life times Salary (in last 12 months) assurance and expenses if you die while a contributing member (with a minimum benefit Option to pay in 2007 of 68,736.36) additional contributions A lump sum equal to the value Tax relief on contributions of your retirement account for UK taxpayers State Benefits Any state benefits to which you may be entitled are payable in addition to the benefits from the Plan 02/03

MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 6 @ 04/05 Joining the Plan You can join the Plan if you are: An Officer (remember this includes a Cadet or Trainee) and Employed by a company that participates in the Plan and Liable for UK tax even if not paying tax, for example if covered by the Seafarers Foreign Earnings Deductions and Aged 18 or over (but under age 61) If you are not liable for UK tax because you are not resident in the UK, you may still join the Plan (as long as you fulfil the other conditions set out above), provided that you are employed by a company that is liable for UK tax. Your employer has agreed to provide Plan membership to all their eligible employees and should enter you automatically. If you are not entered into the Plan within the first month of your employment, you should tell your personnel department that you wish to become a member and ensure that arrangements have been made to deduct contributions from your Salary with effect from the commencement of your employment. If you choose not to join the Plan when you are first eligible, you may change your mind and apply to join at a later date. You should, however, be aware that in these circumstances you may be required to provide medical evidence in respect of the lump sum death benefit. You should note therefore that if you do not join when you are first eligible, you will not be covered for the lump sum death benefit until confirmation has been given to you by MNPA. You should complete the membership application form provided with this booklet and give this to the payroll department of your employer. At the same time you are advised to complete and return the Expression of Wish form to tell the Trustee to whom you would like the death benefits paid in the event of your death. Important note: If you are employed by a company that offers two-tier Salary arrangements under which MNOPP members accept a lower Salary and you also benefit from the Seafarers Foreign Earning Deductions whereby either no tax is paid or any tax you pay is refunded to you at the end of each tax year, you may wish to seek personal financial advice before you apply to join the MNOPP as to whether an alternative arrangement might be more beneficial. There are circumstances where the Plan may not be the most appropriate savings vehicle but your overall circumstances need to be taken into account to determine whether this could be so. Pension and investment advice to guide you on this is available from The Pension Partnership (TPP), a regulated firm of independent pension consultants. The Personal Financial Planning Team within MNPA has now merged with TPP and are fully acquainted with the pension options and special circumstances of Merchant Navy Officers. It is likely that a fee would be charged for any such advice. TPP can be contacted by telephone on 01252 861380 or by email at mnadvice@pensionspartnership.co.uk. Details of TPP can also be found on the company s website at www.pensionspartnership.co.uk. 05 Contributions to the Plan You contribute 3.9% of your HM Revenue & Customs allows Pensionable Salary. Your you to pay up to 100% earnings contributions will be deducted or annual allowance of your total monthly from your Salary and earnings (including your normal if you are tax resident in the UK, standard rate of contributions) each you will receive full tax relief on tax year subject to any restrictions your contributions. to ensure that your total retirement benefits remain within the HM Your employer pays 5.1% of your Revenue & Customs limits. Pensionable Salary. This rate covers the administration expenses and You can commence or stop paying the cost of providing the lump AVCs at any time while you are sum death benefit. The balance a contributing member. of at least 3.9%, after deductions Your AVCs will be invested in of these expenses, is paid into your the same way as your standard retirement account together with contributions to enhance your your own contributions. retirement account. The above contribution rates are Your employer may also make the standard rates of contribution. additional contributions above the You may increase your own rate of 5.1%. These would not be contributions above 3.9% of counted as AVCs within the limits Pensionable Salary to enhance that apply to your own additional your retirement account. Any contributions. Your employer will extra contributions you pay will advise you if this applies. be classed as additional voluntary contributions (AVCs) and will attract full tax relief in the same way as ordinary contributions. 04/05

MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 8 @ 06/07 How your contributions are invested The Trustee has appointed Barclays LifePath fund Global Investors (BGI) as investment The investment strategy of the manager for the Plan and has LifePath fund managed by BGI selected a range of funds managed by recognises that your investment BGI to be made available to members. needs change through your working life. In the early years the key aim Unless you elect otherwise (see is to maximise your investment below), contributions will be invested return. The LifePath fund therefore automatically in a LifePath fund with invests in a wide range of company an investment strategy based on shares (equities). Later on, as the your retirement at age 61 (the period remaining to your retirement Normal Pension Age). shortens, there is a need to protect In addition to, or as an alternative the pension purchasing power of to, a LifePath fund you may select your retirement account. your own investment strategy, Consequently, over the ten years choosing to invest contributions prior to your retirement date the in one, or a combination, of the investment strategy of the LifePath following BGI funds: fund gradually switches from equities into bonds, gilts and cash. Aquila Life 60:40 Global Equity Fund As the LifePath fund s investment strategy changes with time, there Aquila Life Balanced Fund is no requirement for you to switch Aquila Life Over 5 Years UK the investment of your retirement Index-linked Gilt Index Fund account this is automatically Aquila Life Cash Fund performed within the fund. The LifePath concept aims to ensure All the investment funds selected that you will only need to make are index-tracking funds. An indextracking fund invests in all the circumstances or investment an investment decision if your life companies of a particular market horizons change. or index. Index-tracking is a way of managing money so that you receive the investment return designed to match the performance of the index. The LifePath fund invests in various index-tracking funds. For the majority of your working life the investment portfolio will look like this: The following chart shows how the investment portfolio will change over the period to your retirement: Years to retirement I UK Equities 50% 2 US Equities 15% 3 European Equities 13% 4 Japanese Equities 9% 5 Emerging Markets 5% 6 Pacific Rim Equities 5% 7 Canadian Equities 3% Equities Corporate Bonds Index-linked Gilt Cash 06/07 A brief description of each of the funds is set out below but more details are contained in the investment fact sheets, which are enclosed in the pocket at the rear of this booklet. The investment fact sheets are updated monthly by BGI and you are therefore able at any time to obtain up-to-date information on the funds via the BGI/MNOPP website link at www.barclaysglobal.com/dcmembers/ micro/mnopp. At retirement the investment portfolio will look like this: I Index-linked Bonds 55% 2 Corporate Bonds 20% 3 Cash 25%

MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 10 @ Essentially 08/09 How your contributions are invested cont d the LifePath is a series of over 50 individual year funds, Aquila Life Over 5 Years UK Index-linked Gilt Index Fund each of which matures at a different This fund invests in UK date in the future although each of Government index-linked gilts the funds follows the same overall that have a maturity period of investment strategy. five years or longer. For example, if you reach Aquila Life Cash Fund Normal Pension Age in 2040, your retirement account will be This is a cash instrument invested in the LifePath 2040 fund. only fund. If, however, you wish to plan to You may also have part of your retire earlier or later than age retirement account invested in 61, you may nominate a target a LifePath fund in addition to one retirement date. For example, if you or more of the above funds. wish to target retirement five years You should be aware that if you earlier, your account will be invested decide on your own investment in the LifePath 2035 fund. strategy by investing in the above If your retirement plans change, funds, it will be your responsibility you may at any time nominate a to monitor whether that strategy new target retirement date and your remains appropriate throughout retirement account will be switched your membership of the Plan or if to the LifePath fund with a maturity changes are required at any time. date falling in the year of your new You are able to change your target retirement date. investment funds at any time. Other investment However, if you request more than fund options one switch of investment funds in The alternative to having your any one year, a charge (payable by retirement account invested in you) may be levied. MNPA would the LifePath fund is to select advise you of any such charges. your own investment strategy by investing in one or more of the following BGI funds. Aquila Life 60:40 Global Equity Fund The fund is invested 50% in the shares of UK companies. The remaining 50% is split equally between shares of companies in the United States, Europe and the Far East. Additional investment fund information While further information on each of the funds is available from the investment fact sheets contained in the pocket at the rear of this booklet, you can contact BGI or MNPA should you require further information or have any questions. Additional information can be obtained by: Using the website link with BGI at www.barclaysglobal.com/ dcmembers/micro/mnopp Telephoning the BGI helpdesk on 08457 244244 Emailing BGI at dchelpdesk. europe@barclaysglobal.com Contacting MNPA on 01372 386000 and in each case informing them that you are a member of the MNOPP. You should note that while BGI can provide you with information about the funds, their staff cannot advise you with specific personal investment advice. If you need personal financial advice, you should seek this from your own personal financial adviser or from TPP (see page 4). It is likely that a fee would be charged for any such advice. What do you need to do? 1. LifePath fund If you decide that contributions to your account should be invested in the LifePath fund and you wish to plan to retire on your Normal Pension Age (age 61) then you need take no action. Your retirement account will automatically be invested in the appropriate LifePath fund. If, however, you decide that you wish to nominate an earlier or later retirement date for your LifePath investments, you should complete form A and return this with your membership application form (otherwise it will be assumed that your nominated retirement date is age 61). If at some future date you wish to change your nominated retirement date (for investment purposes), you may do so by contacting MNPA. 2. Other fund options If you wish all or part of your retirement account to be invested in one or more of the other funds, you should complete form B and return this with your membership application form. The LifePath fund can be included in the funds that you select but it will be assumed that this will be based on retirement at age 61 unless you also complete and return form A. Forms A and B can be found in the pocket at the back of this booklet. 08/09 Aquila Life Balanced Fund The fund invests in a mixture of UK equities, overseas equities and gilts.

MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 12 @ 10/11 Your choices at retirement On your retirement you can choose between: A pension or A tax-free cash sum (PCLS) and reduced pension Your pension At retirement, the funds that have built up in your account will be used to buy you benefits with an insurance company. The actual amount of pension you will be able to buy will depend on: How much money there is in your account (which depends upon future investment performance) What choices you make regarding a tax-free cash sum (PCLS), pension payment guarantee and spouse s or dependant s pension What the market rate is for converting your funds into pension when you retire Your pension will be bought from an insurance company offering competitive rates when you retire. You will not know precisely what your pension will be until shortly before you retire. If you would like an illustration, please contact MNPA, who will be able to advise you. That part of your retirement account which arises from your AVCs will be used to purchase additional pension and cannot be taken as cash. Your benefit options A cash sum (PCLS). You can exchange some of your pension for a tax-free cash sum. The maximum cash allowed is 25% of your accumulated fund on retirement. A spouse s or dependant s pension You can give up part of your pension to provide a pension for your spouse or other dependant, payable on your death. A five-year guarantee You can buy a pension with a minimum period of payment guarantee. If you decide to buy a pension with, say, a five-year guarantee and you die before five years pension payments have been made, the balance of the pension payments will be paid as a lump sum. MNPA will inform you of your options in more detail near the time of your retirement. Independent financial advice can be obtained from TPP, as detailed on page 4. Payment of pension and increases Your pension will be paid monthly for the rest of your life. Payments are made directly to your bank or building society account. Tax will be deducted from your pension under the normal PAYE procedure. Your pension will increase each year in line with the rise in the Retail Price Index, subject to a maximum of 5% per annum. Early retirement You may currently retire at any time from age 50 and the money in your account may be used to buy an immediate pension. From 6 April 2010 the earliest date you can retire increases to age 55. If you are under age 50 (or age 55 from 2010) but need to retire due to ill health, you have the option to receive an immediate pension ill health for this purpose means ill health or disability that prevents you from following your normal or similar employment. The decision of the Trustee is final as to whether you are suffering from ill health or disability and the Trustee may request such medical evidence as it thinks fit. The pension available on early retirement is likely to be less than if you retire at Normal Pension Age as it will be paid earlier. 11 Benefits on death Death while a contributing member If you die while you are a contributing member of the Plan, the following benefits are payable: A lump sum benefit of three times Salary The value of your retirement account The lump sum benefit is subject to a minimum benefit. The minimum benefit for the year commencing 1 April 2007 is 68,736.36 but will increase each year in line with increases in Section 148 Orders (essentially in line with National Average Earnings). Normally the value of your retirement account will be used to purchase a spouse s or dependant s pension but may alternatively, at the discretion of the Trustee and subject to HM Revenue & Customs limits, be paid as a lump sum. Death after ceasing contributions but before retirement If you die after ceasing contributions but before taking any retirement benefits from the Plan, the value of your retirement account will be used, at the discretion of the Trustee, either to pay a lump sum or to provide a spouse s or dependant s pension. Death after retirement If you die after retirement, your spouse or dependants may receive a pension and/or a lump sum depending upon the benefit options you selected when you retired. Expression of Wish form It is the Trustee s discretion to determine to whom any lump sum benefits are paid in the event of your death. However, in exercising their discretion, the Trustee will take into account your wishes and you are therefore encouraged to complete the Expression of Wish form, which can be found in the pocket at the back of this booklet. You may nominate any person(s) on the form although it is usual to include relatives or others who are dependent on you. It is important that you update your form if your personal circumstances change. Further copies of the form can be obtained from MNPA. 10/11

MNPA merchant A4 20pp_v5_aw 19/9/07 17:32 Page 14 @ 12/13 Leaving the Plan The Plan is an industry-wide arrangement. This allows you to remain a contributing member Rejoining the Plan If you stop contributing because you cease to be employed by an should you move between employers employer who participates in the who participate in the Plan. Plan, you can rejoin the Plan However, if you leave the industry later if you recommence working or move to an employer within the for a participating employer. industry who does not participate Contributions paid by you and in the Plan, then you cannot your employer will be added to continue to contribute. your account from the previous period of membership. On ceasing to contribute to the Plan, you have the following options: If, however, you elect to cease paying contributions while You may leave your account where still employed by a participating it is and it will continue to be employer (having given your invested within the Plan until employer one month s notice), your retirement. You cannot pay any subsequent request to rejoin any more contributions into your may be subject to evidence of health account and your employer will in respect of the lump sum death stop contributing benefit. You should note therefore or that if you apply to rejoin (having If you are age 50 (or age 55 from previously elected to cease 2010) or over, you may be able contributions), you will not be to take your pension early covered for the lump sum death benefit until confirmation has been or given to you by MNPA. You may transfer the value of your account to your new employer s approved pension scheme or to another approved pension arrangement. If you wish to determine the value which may be transferred, you should contact MNPA If you have been contributing to the Plan for less than two years, your options are also as detailed above. 13 Transferring benefits into the Plan You may be able to transfer into the Plan pension benefits from a previous arrangement. The transfer value paid by the previous arrangement will be used to increase the value of your retirement account and buy extra benefits at retirement. Transfer values are accepted only with the agreement of the Trustee. If you are interested, MNPA will give you details. 12/13

MNPA merchant A4 20pp_v5_aw 19/9/07 17:32 Page 16 @ 14/15 Temporary absence and maternity leave If you are absent from work due to ill health or injury, you will remain a member of the Plan until you leave your employer s service. You will continue to pay contributions while you are still receiving pay and will be protected by the life cover while your contributions continue. If you are on paid maternity leave, you continue to pay contributions to the Plan based on the pay you actually receive. Your employer will continue to pay contributions and your life cover continues at the full rate applicable before you went on maternity leave. If you require further information regarding adoption leave, parental leave and paternity leave, you should request this from your employer. 15 How the Plan works Management of the Plan The management of the Plan is the responsibility of the Trustee. There are six directors of the Trustee three nominated by Nautilus UK and three nominated by the Chamber of Shipping. It is the duty of the Trustee to act in accordance with the Trust Deed and Rules governing the Plan and in the best interests of the members. The lump sum death benefit of three times Salary is provided through an insurance policy held by the Trustee. Your retirement benefits are provided from your own individual account, also held by the Trustee. The Trustee is assisted in carrying out its responsibilities by independent professional advisers, auditors and investment managers. The day-to-day administration of the Plan is carried out on behalf of the Trustee by MNPA. HM Revenue & Customs registered The Plan is approved by HM Revenue & Customs, so that your contributions receive full tax relief if you are a UK tax resident. HM Revenue & Customs imposes certain limitations on contributions and benefits; you will be informed if these are likely to affect you. Amendments to the Plan Whilst the Trustee currently intends that the Plan should continue, the Trustee reserves the right to amend or terminate the Plan at any time in accordance with the Trust Deed and Rules. The Trustee also retains the power to switch investment managers in future in accordance with the Rules. This may be both in respect of future contributions and contributions paid to the date of any switch. 14/15 PLAN INFORMATION You will be given a Benefit Statement each year showing the value of your retirement account under the Plan. Each year the Trustee will present a report of the Plan together with the formal accounts. Copies of the formal Plan annual report are available on request. You will be kept informed of any changes made to the Plan.

MNPA merchant A4 20pp_v5_aw 19/9/07 17:32 Page 18 @ 16/17 Further information State Pensions The State Pension arrangement Contracting Out You may choose to contract out of comprises three parts: S2P by taking out an appropriate personal pension. In this case, a rebate on your National Insurance i) The basic State Pension contributions would be paid into A flat rate pension paid to everyone your personal pension and you with a sufficient record of National would build up benefits under the Insurance contributions. You receive personal pension instead of S2P. your basic State Pension when you If you are not sure whether or not reach State Pension Age. to contract out of S2P, you should consult an independent financial ii) The State Earnings Related adviser or TPP (see page 4). Pension Scheme (SERPS), which closed on 5 April 2002 Pension Registry An additional pension is provided If you have lost track of your based on earnings between a lower deferred benefits with a previous earnings limit and an upper employer, you can contact the earnings limit. Registrar, who may be able to provide you with an up-to-date iii) The State Second Pension (S2P), address of the trustee of that which commenced on 6 April 2002 scheme. The Registrar s address is PO Box 1NN, Newcastle-upon-Tyne, An additional pension is provided NE99 1NN. which is based on a lifetime target level of pension on earnings up to the Upper Earnings Limit. Your entitlement to any part of the State Pension arrangements will depend upon your National Insurance contributions record. Any entitlement under the State Pension arrangements (details of which can be obtained from the HM Revenue & Customs National Insurance Contributions Office telephone 0191 213 5000) is, however, paid in addition to your Plan pension. Any problems If you have any queries about the Plan, you should first contact MNPA. In the unlikely event that you have a problem which cannot be resolved by MNPA or your employer, there is a formal disputes procedure. This covers disputes between the Trustee and members, prospective members and beneficiaries. You can obtain a Dispute Resolution Application Form (Stage 1) by writing to the Operations Director, MNPA, Leatherhead House, Station Road, Leatherhead, Surrey, KT22 7ET. If your problem cannot be resolved by MNPA, your employer or the Trustee, you can at any time contact The Pensions Advisory Service (TPAS). This service was set up to give help and advice to anyone experiencing difficulties with their pension rights. If TPAS cannot solve your pension problem, the Pensions Ombudsman (appointed under statute) is available to investigate and determine any complaints or disputes of fact or law connected with occupational pension schemes. Both TPAS and the Ombudsman can be contacted at 11 Belgrave Road, London, SW1V 1RB www.opas.org.uk www.pensions-ombudsman.org.uk. There is also a regulatory body, the Pensions Regulator with which the Plan is registered. The Pensions Regulator was set up to ensure that occupational pension schemes are safe and well run. The Pensions Regulator may intervene in the running of pension schemes where trustees, employers or their professional advisers have failed in their duties. The Pensions Regulator can be contacted at Napier House, Trafalgar Place, Brighton, East Sussex, BN1 4DW. www.thepensionsregulator.gov.uk. Data Protection Act 1998 This Act covers facts on paper or in computers about living people. It lays down rules for firms that hold such data and it gives rights to people whose data they hold. Data for the Plan is held by MNPA at Leatherhead House, Station Road, Leatherhead, Surrey, KT22 7ET. The Trustee is the data controller for the purposes of the Data Protection Act 1998 and MNPA is the Trustee s data processor. MNPA holds this data (which includes the information you provide by completing the Plan s membership application form) in order to run the Plan for the Trustee and to pay out the benefits. This data has come from and may be shared with you, your employers, suppliers of services to the Plan and government bodies. Your explicit consent is required in order to hold any sensitive personal data about you you give this consent by signing the Plan s membership application form. You can find out from MNPA what data is held about you and, if it is not correct, you can ask for it to be put right. 16/17

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ADDENDUM TO THE MERCHANT NAVY OFFICERS PENSION PLAN (MNOPP) BOOKLET This addendum has been produced to advise members of a change to the Trustee s nominated provider of pensions and investment advice to Plan members and their families. At the time the current booklet was produced the provider was The Pension Partnership. There have been changes within that organisation and a new company was formed with the new name of Pension and Wealth Planning Ltd. (PWP). PWP is a regulated firm of independent financial advisers and is staffed by advisers from the former company. Therefore they are fully conversant with the MNOPP and the circumstances of Merchant Navy Officers. The Trustee is confident that members and their families will continue to receive the appropriate advice, but of course members are free to seek advice from another independent financial advisor. PWP can be contacted as follows. By Telephone 01252 861380. By Fax 01252 861381 e-mail - enquires@penwp.co.uk Website http://www.pensionswealthplanning.co.uk/nautilus.php For and on behalf of the Trustees Ltd.