Storebrand Livforsikring AS, NSA Provident Fund administrator, adapted a new procedure in the payment of the Provident Fund retirement benefit.
In the new Member Booklet being distributed to seafarers/members, the new procedure or regulation states that “The NSA Provident Fund provides a lump sum cash payment at retirement age (50). However, for a Member to claim his retirement benefit, the Member need to be in the position of permanent retirement. If the member is still working, he is not entitled to claim his benefit.
This means that in order for a member to be entitled to receive his retirement benefit, he needs to be 50 years old and fully retired.
For further information on the new procedures set by Storebrand, please contact or visit the Fil-Nor GAIN office.