Don’t forget the future

Rory Murphy, at Ensign, warns that too often people “park” their pension arrangements in favour of dealing with current day issues. However, he suggests, that will prove to be a short-sighted approach

Many in the UK’s maritime industry may not see pensions as top of the list of risks as Brexit looms. Even if it were possible to “park the significant obstacles” of Brexit for one moment, there are still numerous other challenges facing the sector. Over-capacity, weak shipyard capacity, the scrapping of container ships, tighter requirements on fuel emissions and a challenging outlook for the global offshore and energy market, all combine to present a daunting picture for the industry.