| Achong Tanjong |
THE Employees’ Trust Fund (TAP) yesterday declared the dividend rates for the Supplemental Contributory Pension (SCP) scheme for the Financial Years beginning January 1, 2010 to March 31, 2013 were as the rates of TAP, which are 3 per cent for the period from January 1 to March 31, 2010, 2.5 per cent for the period from April 1, 2010 to March 31, 2011, 2.4 per cent for the period from April 1, 2011 to March 31, 2012 and 2.5 per cent for the period from April 1, 2012 to March 31, 2013.
According to a press release, based on these rates, a total of $34,116,748.65 has been credited to member’s accounts on October 25.
The SCP scheme is a retirement scheme implemented on January 1, 2010. Effective April 1, the management as well as the administration of the SCP scheme has been absorbed into the TAP Board. Under this scheme, members who have met the requirements will receive a fixed minimum payout every month (annuity) upon reaching the retirement age of 60 for a period of 20 years.
The SCP scheme can be participated voluntarily by self-employed individuals where they will receive additional monthly contribution benefit from the government amounting $17.50 every time they contribute to SCP at the minimum amount of $17.50.
Members can obtain their account information by visiting any TAP branches during office hours or via TAP’s e-Info kiosks, or through TAP’s e-Amanah web portal accessible at www.tap.com.bn for members who have registered for the online service.
For more information, contact TAP Call Centre at 2382800 during office hours.