OLD AGE BENEFIT SCHEME

• a) ₹50,000 for seafarers holding Indian CDC and on completion of age 65 years on/after 01.01.2019.
• b) ₹ 1,00,000/- for seafarers holding Indian CDC and on completion of age 75 years (on/after 01.01.2026) The seafarer should have minimum 6 months sea service after age 55 (post 01.04.2014) through Indian Shipping company or RPSL (amended to minimum 6 months cumulative sea service after the age of 50 years for seafarer applying to 65 years scheme & w.e.f 1.1.2026 for applying 75 years scheme).
• Indian CDC must be cancelled

DETAILS OF THE “OLD AGE BENEFIT” VEWLFARE SCHEME FOR THE INDIAN SEAFARE WHO ATTAINS THE AGE OF 65 YEARS ON 1.1.2019 & 75 YEARS ON 1.1.2026 OR THEREAFTE

• Pursuant to the objects of the Seafarers’ Welfare Fund Society (hereinafter referred to as the Society) as defined in Article 3 (XV) of the Memorandum of Association of the Society, the Indian seafarer as being eligible in terms of provisions of the rule 3 herein below, may be provided the financial assistance under “OLD AGE BENEFIT” welfare scheme” to the Indian seafarer who attains the age of 65 years on 1st January 2019 or thereafter under the circumstances and to the extent detailed herein below.
• Such financial assistance to the Indian seafarer on attaining 65 years on 1st January 2019 & 75 years on 1st January 2026 or thereafter shall be provided. At the absolute discretion of the society such financial assistance, may be dispensed with and / or curtailed of enhanced, suspended or completely withdrawn at any time without any prior notice. The availability of such financial assistance under the “Old Age Benefit” welfare scheme to the eligible Indian seafarer does not in any manner confer or create any prescriptive right whatsoever and shall not be called in question

Eligibility

• A) The scheme is applicable to Indian seafarer who attains the age of 65 (sixty five) years on 1st January 2019 or thereafter and fulfills all the following conditions:
• B) The scheme is applicable to Indian seafarer who attains the age of 75 (sixty five) years on 1st January 2026 or thereafter and fulfills all the following conditions
• He / She should have last performed cumulative 6 months (six months) sea service after 01.04.2014 after the age of 55 years; (amended to minimum 6 months cumulative sea service after the age of 50 years for seafarer applying to 65 years scheme & w.e.f 1.1.2026 for applying 75 years scheme)
• He / She should have joined Indian flag vessel or engaged through registered RPS License holding company on Indian or Foreign flag vessels and
• He / She should have an Indian CDC, which has been duly cancelled.

Quantum of Assistance

• The quantum of financial assistance under this scheme shall be ₹ 50,000/- in respect of seafarers who complete 65 years to the eligible Indian Seafarer.
• The quantum of financial assistance under this scheme shall be ₹ 1,00,000/- in respect of seafarers who complete 75 years on or after 1.1.2026 to the eligible Indian Seafarer.

Important Conditions

• The Society may approach the Indian ship-owner / registered RPS company concerned to obtain such particulars as may be necessary, for the purpose of payment of financial assistance envisaged under this scheme.
• To receive the benefit under this scheme only such applications will be entertained which are submitted to the Seafarers’ Welfare Fund Society within a period of twelve months after attaining the age of sixty five years or seventy five years.
• Application for financial assistance under this scheme is to be made in the prescribed form along with original latest CDC book.
• Notwithstanding anything contained herein above in all doubtful / disputed and / or exceptional cases, the Committee of Management of the SWFS may examine and decide the cases, on case to case basis and its decision shall be final.