Our Retirement Savings Plan is an International Pension Plan (IPP) designed to fulfil the needs of internationally mobile seafarers.
We offer pension and savings options globally, where some jurisdictions may not.
The Retirement Savings Plan is owned by the trustee. This means the retirement plan simply follows you when you move between employers, around the world.
Payments into the plan are known as ‘contributions’, You can pay us directly or payments can be done through payroll.
You or your employer can make regular or one off payments via your employer’s payroll plus it may be possible to transfer in funds from other pensions or savings plans. The minimum contribution amount, whether paid by members, employers or a combination of both, is USD 100 (or currency equivalent). There is no maximum limit.
Contribution holidays allow you to stop making payments to the Plan with no financial penalties.
Your contribution can be made from most countries in the world and in MOST, but not ALL currencies. If you make a payment in a currency that is not available in the plan, we will convert it for you, to one that is.
Lump sum payments can also be withdrawn to bank accounts in most countries in the world. See ‘accessing your savings‘
Younger plan members are invested in growth assets such as equities.
As members grow older & retirement approaches, the investment mix gradually becomes more conservative by moving into less volatile, more ‘secure assets’, such as fixed interest securities.
See ‘What does the SRSF invest in?’ Fund selection.
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