Wavelink Thrift
Introduction
Wavelink Thrift Pte Ltd is currently responsible for the administration of the Seafarers’ Provident Fund (SPF), Singapore Maritime Training Fund (SMTF) and Seafarers’ Medical Scheme (SMS). SPF, SMTF and SMS were established in 1999, 2006 and 2007 respectively, and was set up by Singapore Maritime Officers’ Union (SMOU), to enhance the welfare of seafaring members on board CBA ships covered by SMOU Collective Agreements, offered to shipping partners.
Seafarers’ Provident Fund (SPF)
SPF is co-managed by NTUC Thrift & Loan Co-operative Ltd. Established in 1998, NTUC Thrift & Loan Co-operative Limited was founded by NTUC to serve the financial needs of union members. Membership is opened to all affiliated unions and co-operative members and offering higher returns on their savings. The SPF funds are maintained with NTUC Thrift & Loan Co-operative Limited.
Today, more than 14,000 SMOU members have saving accounts amounting to more than S$14 million under the SPF Scheme. We have helped 211 SMOU members and their families who have claimed more than S$300,000.*
The SPF Administrative Committee (AC) members are made up of officials from Maritime and Port Authority (MPA), Shipping partners, SMOU and NTUC Thrift & Loan as observer, providing invaluable inputs and advice on the administration of the SPF.
Singapore Maritime Training Fund (SMTF)
SMTF is co-managed and administered by Wavelink Thrift Pte Ltd. It works towards ensuring that officers receive essential and relevant training continuously. The collaboration and Advisory Council (AC) from the SMOU and CBA companies, (joint contributions), provides a platform to deal with critical issues relating to seafarer training at the national and international level.
The SMTF AC members are made up of officials from Singapore Maritime Academy (SMA), Shipping partners, SMOU and Wavelink Academy.
Seafarers’ Medical Scheme (SMS)
Wavelink Thrift Pte Ltd also manages the SMS. The SMS is a specifically designed healthcare scheme that takes care of the cost of the medical requirements of SMOU seafaring officers and their families.
*All figures presented are correct as at 31st Dec 2007
WAVELINK THRIFT
Wavelink Building (Level 4)
Tel: +65 6390 1661/ 622
Fax: +65 6295 1121
Email: thrift@wavelink.com.sg
75 Jellicoe Road, Wavelink Building
Singapore 208738
