THE Myanmar Seafarers Federation (MSF) is preparing to form a working committee on the pension system for Myanmar seafarers.

Discussions have been held with relevant organizations, including the Department of Marine Administration and Myanma Insurance, to establish this pension system. At the initial meeting in 2020, the MSF’s president stated that a pension system was required.

“Yesterday’s imagination has found a path to reality. Discussions were held among organizations such as the Department of Marine Administration, Myanma Insurance, overseas consultants, MSF, MSESF, Myanmar Five Star Enterprise, and Coastal Ship Owners Association,” the MSF said.

MSF’s proposal to form a management and working committee was accepted in principle and the meeting will continue to implement it.

Plans for a seafarers’ pension system were underway, Captain Soe Min Aung, MSF president, had previously said at a forum held last month.

“The reason we are introducing the pension system is because we have found that many seafarers of our age are homeless and destitute. If the young sailors have no money in old age, what will they do? Then we realize we must work with the relevant organizations to create a pension system,” he said.

MT/ZN

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