Tuesday, July 23, 2024
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Brunei Town

900 join briefing on new retirement scheme

By Azlan Othman

The Employees Trust Fund (TAP) continued its campaign to provide a briefing on the National Retirement Scheme (SPK).

Yesterday saw some 900 officers and staff of the Ministry of Finance and Economy and Ministry of Development attend the session.

The session touched on the objective of SPK – to further improve the well-being of TAP members during retirement by taking into account various factors and challenges using the income replacement rate (IRR).

Participants were also briefed on the annuity or monthly payments extended for life to deal with the increasing age, matters relating to the type of SPK withdrawal that is more flexible and allows withdrawals for members’ use before retirement, and dependents welfare that is more expansive not only prior to retirement but also during retirement.

The new SPK scheme is more inclusive, by admitting those working in the informal sector and the self-employed.

The session also saw a deliberation by TAP’s managing director and acting deputy managing director.

An activity was also held for participants to improve understanding and provide feedback.

The dissemination drive will continue in stages for other ministries, the private sector, the informal sector and employers.

Participants during the briefing session. PHOTO: TAP