It is a fact that we all live with a certain level of anxiety as regards to premature loss of earnings resulting from health problems or unforeseen circumstances. LOL and other similar type policies may prove prohibitively expensive for some of us and do not cover death.
With this in mind the PFP is initiated by a group of volunteer pilots in Scoot-TigerAir Pte Ltd and SilkAir. The PFP project seeks to assure each participant of help and support from fellow colleagues by way of pledges made through the register. This project is strictly voluntary and its continued success depends very much on our willingness to honour our pledges when the occasion arises. The administrators maintain the register of participants and initiate a collection when required. ALL PAYMENTS ARE MADE IN FULL TO THE BENEFICIARY DIRECTLY WITH THE ADMINISTRATORS SERVING ONLY TO FACILITATE COLLECTION AND DELIVERY. All work done is strictly voluntary and attracts no payments.
To ensure the project will kick off to a meaningful start, each participant will be obliged to contribute $350 if you are a Captain and $250 if you are a First Officer for a loss event. (Rank is determined as on the date of loss event)
It is important to note that PFP seeks to be a supplementary plan to the various formal Loss of Licence insurance schemes, and should not be taken as the mainstay of one's Loss of Licence insurance needs. It is not an insurance, and benefits are not guaranteed. The viability of PFP lies with the willingness of participants to take ownership of the project and ensure its continued success by encouraging each other to honour obligations and to support and trust the Administrators to do the right thing.
NO UPFRONT PAYMENTS/ PREMIUMS and RENEWALS REQUIRED
Collection will only be initiated when it is confirmed that the participating member has incurred permanent or temporary loss of his Singapore Flying Licence (CAAS), or death.
Participants must accept that pledges cannot be guaranteed, and is solely dependent upon members honouring their pledge. It must be emphasized that this project is not an insurance policy and no premiums are collected.
A voluntary group of Administrators from amongst our colleagues from both BAH and SilkAir, will maintain the register and initiate collection when the need arises. It will be collected in the form of donation cheques made out to the beneficiary direct. The Administrators will act only as facilitators to collect and mark off the register.
All that is required to participate in the project is to sign up with the Voluntary Administrators (VAs) and provide your particulars and contact data.
Members who renege on contribution when the occasion arises will be disqualified permanently from re-entry into the scheme.
QUICK FACTS About PFP
- No yearly premiums- Benefits applicable even upon death- No monies handled by the administrators- No renewal once signed up- Probable significant cost savings if large register base is maintained- Strictly voluntary participation- Wait period of 1 year from date of joining PFP, to preclude a loss of licence from an existing illness not yet diagnosed- Immediate participation in death benefits upon signing up- Current contribution (pledged amount) set at $350 (If you are a Captain) and $250 (If you are a FO). Reviewed periodically
Note: For members past age 60, LOL/ Death benefit is capped at 50%. Meaning, for a loss event of a member that is more than 60 years old, your contribution is set at $175 (If you are a Captain) and $125 (If you are a FO)
Temporary Loss of Licence (T-LOL)
- T-LOL will be paid only once, at the 6th month mark (from the date that the pilot was grounded medically by CAMB)- Pilot claiming T-LOL will have to be medically grounded for a continuous period of 6 months- Payout for T-LOL will be determined by the Administrators at the time of the Loss Event based on our membership size (for eg: if we have 300 members, the contribution will be 50 SGD each. Payout = 15,000 SGD) - He/She will have to be under the age of 60 on the date that he/she was grounded by CAMB, Singapore. - He/She is eligible for LOL/ Death Benefit even after claiming T-LOL. However, If LOL is paid before the 6th month mark no T-LOL will be paid.
- Past the age of 50 for new signups - When under training (Cadets, SO/JFO, DEC)* or when under probation (FO, DEC) whichever is longer - After 6 months of flying as a qualified pilot (i.e., Must join within 6 months of being cleared to operate as FO or Captain)- No longer an employee of BAH, SilkAir or a subsidiary of SIA (i.e., Should NOT be serving notice to leave the company) - Past the employability age as determined by the Company- Upon opting out for whatever reasons, re-entry is not permitted- A member who has benefited from the scheme (i.e., received a LOL payout) and has since rejoined the Company as a Pilot will be maintained as a contributing member. Unfortunately, he/she will no longer be eligible for any more benefits (T-LOL is exempted) - Members who have an endorsed disability upon joining, will not be eligible for benefits if loss of licence occurs due to the said endorsed disability- Upon non-honouring of pledge when activated
note: Upon successful medical renewal at age 60, participants will continue to be on the scheme till age 65* SO = Second Officer, JFO = Junior FO (SO in A320), DEC = Direct Entry Crew
This is nothing more than a simple scheme to provide a guideline for us to help a colleague in need should the unfortunate circumstance occurs. A concerted effort to help ourselves in our unique profession, it seeks to assure participating members of care and support should the need arise.
It is hoped that the project PFP will succeed and take-off by its very simplicity in approach. Its success depends on us participating and honouring the pledge when the time comes.
Participating members must place their full trust in the Administrators to administer this project in as fair and equitable manner as possible, for the good of all.
< Click "NEXT" to read Pilots For Pilots Admin Manual >