The Kvaerner Pension Fund Association (KPFA)

In April 2005, Kvaerner plc (the principal employer of the Kvaerner Pension Fund) was sold to five Norwegian managers for the consideration of £1. The sale of Kvaerner plc cuts the link with Kvaerner ASA, the company, which has guaranteed the employer contributions to the Kvaerner Pension Fund at their current reduced level until the end of 2006. These changes are clearly disturbing and raise concerns regarding the longer-term impact on the Kvaerner Pension Fund.

It is against this background that the Kvaerner Pension Fund Association (KPFA), which has operated since 1996 in the south of England, is being extended to include all Pensioners, Deferred Pensioners and Dependants (receiving a Pension from Kvaerner) from all areas of the UK.

It is proposed that the Association will act as a pressure group to provide a single point of contact when dealing with the Trustees of the Kvaerner Pension Fund, Kvaerner plc, the Pensions Regulator, Members of Parliament and other parties who could influence the situation.

The other function of the KPFA will be to issue a regular Newsletter, so that Members are updated on developments that could affect their pension.

Membership of the Association is open to all Pensioners, Deferred Pensioners and Dependants (receiving a Pension from Kvaerner) and we would ask all potential members who qualify to help themselves and their former colleagues by registering today as a Member of the Kvaerner Pension Fund Association.

There are over 30,000 potential members of the KPFA in the UK and it is hoped that a significant number of these will formally register as Members of our Association.

So please pass on this message to all your friends, relatives and ex-colleagues who qualify for membership, asking them to register free of charge on our web site as soon as possible.

The KPFA is a voluntary organisation sponsored and run by Kvaerner Pensioners for Kvaerner Pensioners, Deferred Pensioners and Dependants

(Working in conjunction with Alan Ford of the Kvaerner Pension Fund Association, Broadstairs, Kent)