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