In its effort to further raise the awareness on the importance of retirement planning, the Employees Trust Fund (TAP) continues its ‘10 Years Towards Retirement’ roadshow at the Theatre Hall of the Ministry of Finance and Economy.
The roadshow is part of TAP’s initiatives for TAP members retiring in the next 10 to 15 years. TAP shared several important factors that need to be considered when making a retirement plan, including setting a retirement income goal by identifying an individual expected retirement needs and expenses, and ultimately making the necessary decisions to achieve this goal.
TAP highlighted the Voluntary Contribution as one of the ways members could increase their retirement savings by contributing more than the mandatory amount into their TAP and SCP accounts. Voluntary contributions can be made online via e-Amanah, accessible through TAP’s website at www.tap.com.bn or at any TAP branch during working hours.
The TAP mobile application or the TAP Brunei App was mentioned during the session which allows members to make projections of their TAP and SCP savings when they retire and find the savings gap they need to fill to achieve their retirement income goal.
The roadshow continued with a session on financial planning delivered by a financial planner from Bank Islam Brunei Darussalam (BIBD). The session focussed on lifestyles goals and changes, and the importance of considering the appropriate methods when planning their finances for example, via saving, financial protection and investment.
Autoriti Monetari Brunei Darussalam (AMBD) was also one of the participating institutions for the roadshowvia its Credit Bureau Unit providing members’ Credit Report and consultation, and its Financial ConsumerIssue Unit – to create awareness on the importance of detecting and avoiding financial scams.
The roadshow will continue for TAP members of the same targetted group in the near future.
The public can contact TAP Call Centre 2382800 or via email at [email protected]