Seafarers’ Provident Fund (SPF)
Set up by SMOU in 2001 to improve the welfare of seafaring members onboard ships covered by the SMOU Collective Bargaining Agreements (CBA), the Seafarers’ Provident Fund (SPF) was administered and managed by Wavelink Thrift Pte Ltd, and co-managed by NTUC Thrift & Loan. However, NTUC Thrift & Loan had discontinued with the administration and management of the SPF and has since terminated SPF from 1st October 2012 onwards.
With effect from 1st October 2012, the SPF is now governed by the Scheme of Administration to provide a clear and transparent mechanism for the dissolution and distribution of the SPF funds.
Salient Points on SPF Balance Withdrawals:-
Seven years with effect from 1st January 2013 to 1st December 2019.
Members are required to submit their request for SPF withdrawal with the relevant documentations:-
1.Duly completed Withdrawal Form (can be downloaded from www.ispf.org.sg)
2.Copy of NRIC/Passport (both old and new ones)
3.Copy of Seaman Log Book(s)
4.Copy of the Bank Book or Statement, clearly showing the name of the bank, member’s
5.Indicate mode of payment as:-
i) “Telegraphic Transfer” for members who are based overseas.
It is compulsory to provide the “Swift Code” of the overseas (beneficiary) bank account.
ii) “Direct Funds Transfer to a Local (Singapore-based) Bank Account.
It is compulsory to provide the “Branch Code” of the Local Bank Account.
6.Provide additional documents like Birth/Death/ Marriage Certificate if payout is in the
Charges for Telegraphic Transfer will be imposed by the bank and offset from the payout money.
An administrative fee of 2.8% approved by the SPF Advisory Committee shall be deducted from the SPF money due to the member before payout to the member or the member’s proper claimant.
The duly completed Withdrawal Form and all the relevant documentation may be submitted via the available channels:-
@Email : firstname.lastname@example.org
✉Post : Wavelink Thrift Pte Ltd,75 Jellicoe Road #02-01,Wavelink Building, Singapore 208738
SPF Balance Enquiry
To check their SPF balance, members may access iSPF with the following steps:-
Contact Details : SPF Administrator @email: email@example.com