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Seafarers' Provident Fund (SPF)
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 Administrationto 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:-