Provident Fund

The Provident Fund is a benefit scheme for AMOSUP members wherein participating Companies contribute to the Fund of the seafarer’s account. It was established by the union under several CBAs it negotiated with various shipowners’ associations.

The Provident Fund Office manages various fund agreements. Each type of agreement has a separate fund contributed by the participating companies/shipowners for the members on board participating vessels. The scheme is non-contributory and therefore, not deducted from the members’ wages on board.

The contributions are directly remitted by the participating companies to the designated depository bank/s. Contributions also vary in amount depending on the provisions of each CBA. The funds are invested and managed by different reputable financial institutions or fund managers, both locally and abroad in accordance with the directives of the Provident Fund Board of Trustees. Each fund, under each CBA, has a different set of Trustees and its own rule and regulations. The Board of Trustees is normally composed of a balanced number of representatives from the union and the participating companies shipowners.

The Rules and Regulations of each Fund are detailed in the Provident Fund Passbook. The passbook is issued to qualified members through the manning agent that serves as a record of contributions for Participating Vessels. The member should regularly update the passbook with the manning agent and validate said contributions with the Provident Fund Office.

 

Benefits

The qualified members are entitled to receive the total amount of contributions made in his favor by the Participating Company, plus any interest/income that may have been earned in accordance with the Funds Rules and Regulations.

The qualified member receives, in lump sum and in Philippine pesos, the entire amount contributed under his name, plus 100% of the earnings or interest.

 

For more information, visit or contact the Provident Fund office at

Provident Fund Office

Ground Floor, Seamen’s Center
Cabildo Cor Potenciana Sts,
Intramuros, Manila
Tel Nos (02) 527-8491 to 98
Fax No: (02) 527-3537
Email: provfund@amosup.org

AMOSUP Cebu

Camino Vicenal St,
Mandaue City, Cebu
Tel No: (032) 236-6871, (032) 346-2598
Fax No: (032) 346,2598
Email: shc_cebu@yahoo.com.ph

AMOSUP Davao

Evergreen Compound
R Castillo St
Agdao, Davao City
Tel No: (082) 234-8266, (082) 234-7185
Fax No: (082) 234-7185
Email: shd_davao@yahoo.com

AMOSUP Iloilo

Onate St, Mandurriao
Iloilo City
Tel No: (033) 321-2438, (033) 321-2469, (033) 321-2429
Fax No: (033) 321-3523
Email: shost_ilo@yahoo.com

  • Types of Provident Fund
    AJSU

    AJSU

     

    British

    British

     

    Dutch

    Dutch

     

    FKSU

    FKSU

     

    Italian

    Italian

     

    LSA

    LSA

     

    NCL

    NCL

     

    NCSU

    NCSU

     

    New Swedish

    New Swedish

     

    PRV

    PRV

     

    RBSA

    RBSA

     

    SMOU

    SMOU

     

    Swedish

    Swedish

     

    TCCC

    TCCC

     

  • Funds that are not managed by AMOSUP

    The Danish Provident Fund which was established in 1994 is being managed by Atlanticlux Lebensversicherung S.A. with the following details:

    • Address : 4a, rue Albert Borschette, L-1246 Luxembourg, Luxembourg
    • Tel. No. : +352 26 49 42 00
    • Fax No. : +352 26 49 43 00
    • Email : atl@fwugroup.com
    • Contact Person – Rikke Sandhoj Olsen
    • Email: r.sandhoj@FWUGroup.com
    • Tel. No.: +352 26 49 42 54

    The retirement age for this type of Fund is sixty (60) years old. However, members have the option to claim their contributions when they become inactive from the Fund counted from the date of their last disembarkation. Inactive members can only file their claim every January of each year and there is a corresponding deduction of ten (10%) percent of their total principal contribution plus bank charges for remitting the funds to their personal bank account.

    Inactive members who are interested in claiming their contributions can visit the AMOSUP Provident Fund Office to file for the withdrawal of the same. The required documents are the following:

    1. Certificate/Statement of membership to the Danish Provident Fund;
    2. Valid Passport;
    3. AMOSUP I.D. or any valid government I.D.; and
    4. Bank account number registered under the member’s name.

     


     

    The Norwegian Pension Fund was established in 1988 and is being managed by Uni-Storebrand Pension Services A/S with the following details:

    • Address : Professor Kohts vei 9, P.O. Box 455, 1327 Lysaker, Norway
    • Tel. No. : +47 22 31 11 00
    • Fax No. : +47 22 31 13 75
    • Email : provident.fund@storebrand.no
    • Contact Person – Nina M. Bolge (Administrative Manager)

    The Norwegian unions maintain an office in Manila, Fil-Nor Gain, that can assist the members in their requirements with regards the NIS Pension Fund. Hereinbelow are the details of the office:

    • Address : G/F ECJ Building
    • Real corner Arzobispo Streets
    • Intramuros, Manila
    • Tel. No. : +632 405 0210
    • Fax No. : +632 405 0220
    • Email : filnor@info.com.ph