Stena Line chooses Ensign as pension provider

Stena Line UK Group has chosen Ensign as its main defined contribution pension provider for the majority of its employees, both seagoing and shore-based.

The transfer of approximately 2,200 active and deferred members from Stena Line, one of the world’s largest ferry operators, doubles the membership of Ensign to 4,450, while raising Ensign’s assets under management to over £100m.

Stena Line trustee director, Les Stracey commented: “At Stena Line we value our employees highly, and so selecting the right pension fund is an important part of ensuring their financial wellbeing and security in the future.”

More than 80 maritime industry employers are already members of Ensign, a not-for-profit scheme, designed specifically for the shipping and maritime industry.

Commenting, Ensign chief executive Andrew Waring: “This is a huge vote of confidence in Ensign from one of the biggest names in the global shipping and maritime sector. We are run by and for the industry, and I am delighted that growing numbers of maritime companies are coming on board, with all the benefits that brings both for them and for their employees.

“Ensign is designed not only to help members’ retirement saving and planning, but also to provide maritime industry employers with an effective aid to recruitment and retention, while meeting their pension requirements and managing costs. Pensions are one of the most important benefits to employees, so it’s important their future is in good hands. In the shipping industry, workers face unique challenges, so we are committed to providing a service that reflects those unique requirements.”

    Share Story:

Recent Stories


A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector

Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’

Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast
The role of CDC
In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions Chief Client Strategy Officer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space

Advertisement Advertisement Advertisement