23.6 C
Brunei
Tuesday, August 16, 2022
23.6 C
Brunei
Tuesday, August 16, 2022
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    910 join briefing on new retirement scheme

    Azlan Othman

    The Employees Trust Fund (TAP) continued its campaign to brief on the National Retirement Scheme (SPK) to ministries in the government sector.

    Some 910 officers and staff from the Ministry of Religious Affairs and Ministry of Culture, Youth and Sports attended the briefing session on Saturday.

    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).

    The 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 the 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 began with remarks by Managing Director of TAP, followed by a briefing by Acting Deputy Managing Director of TAP.

    An activity was also held for the 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. PHOTO: AZLAN OTHMAN
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