TERMINATION OF SOS SEAFARERS' PROVIDENT FUND
1. the seafarers' Provident Fund was set up to enhance the retirement welfare of seafaring members on board the ships covered by SOS CBA. The SPF has been administered and managed by Seacare Thrift Pte Ltd and co-managed by NTUC Thrift & Loan.
2. However, as NTUC Thrift & Loan has ceased its business, it is therefore unable to continue with the administration and management of the seafarers' provident fund.
3. It is with much regret that the SPF has been terminated. Consequently, the collection of SPF contributions will not be continued after the collection for the 2nd quarter 2012 is completed.
4. To ensure that our intention of enhancing the interest, welfare and providing financial assistance to our seafaring members remains, we are in the process of registering a new scheme.
5. meanwhile with the SPF termination, we will be disbursing to you the full balance in your SPF account. Due diligence and care will be exercised to ensure that the full amount is disbursed to you. please therefore ensure that the enclosed withdrawal form is duly completed together with relevant supporting documents before submitting it by post to 52
6. do note that overseas payments will be made via telegraphic transfer arrangement or bank draft(charges for telegraphic transfer or bank draft would be borne by the members). for singapore-based members, payments will be made via cheque.
7. to find out further details of the SPF withdrawals do contact us at email.
8. due to the high volume of withdrawal applications received, please do not post repeated withdrawal applications. please ignore this letter if you have already sent in your application