“MY PENSION IS THE LARGEST AMOUNT I HAVE EVER SAVED”

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Pension storm

In 2014, we conducted a Fleet Assessment by owners and class on board in the port of Amsterdam; an audit and inspection of the technical service and crewing department. During the audit and inspections, checklists and formats are used to carefully check whether we still meet 'the standards of the industry' on board. In the evening, during dinner, the ship and office exchanged ideas. I inquired about the pension scheme, because I was 54 by then, and you start thinking about retirement. The response I got? ‘Just look on the Internet.’ Pretty bad considering that pensions are deferred wages. It is the largest amount I had ever saved in my life. Five years later, I hinted to the captains' association that I wanted to know more about the pension system. They were delighted to welcome me to the pension council of Bpf Koopvaardij. The pension council consists of twelve members and a chairman. We represent everyone: people who are or were building up a pension with the fund and, of course, pensioners. The members of the council come from Nautilus, the Dutch Association of Merchant Navy Captains (NVKK) and the Royal Dutch Association of Shipowners (KVNR). Pension council membership is no small feat. We have all had to take extensive courses to obtain qualifications we never dared dream of. We are trained by the best pension specialists in the Netherlands. The twelve of us are trying to weather the storm of the new pension system. We are doing this under the leadership of the chairman and a fantastic female ‘first mate’. This hurricane is fierce. It's a case of dropping the port anchor, securing it with seven fastenings, the engine running slowly forward, keeping the bow into the wind and staying steady. Now, several years after the legislator unleashed this storm, we are updated on the latest developments almost every month. With every new term that comes along, we soon hear exactly what it involves and what it means for our pensions. On 8 August 2025, I will have been working in the merchant navy for fifty years. A nice, symbolic date for the next entry in the ship's log: 11:10 passed the exit buoy, safely entered the harbour using parallel index, end of sea voyage, safely moored, 4 at 2 front and rear, engine room thank you, watch officer relieved, on-shore this evening. Checklist complete, we have ‘converted’ to the new pension system. ←

Constant Herfst

(born 1960) is a captain with MF Shipping Group. He commands product tankers on routes between the UK and Ireland. Since 2019, he's represented employees on the pension fund’s Pension Council on behalf of the captains' association. Constant wrote this column in a personal capacity.