The Employees Trust Fund (TAP) was established in 1993 to replace a previously implemented pension scheme, said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah.
The minister was responding to Legislative Council (LegCo) member Yang Berhormat Naim bin Haji Kamis, who suggested that the pension scheme should be revised for officers and staff members who meet the criteria and have been promoted up to three times.
“If the pension scheme could be revised, it would lead to healthy competition among civil servants at Level 4 and above. It could also boost their motivation and quality of work, along with the performance of their respective ministries and departments,” said Yang Berhormat Naim.
However, Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew said, “We cannot revert to the pension scheme, as we already have TAP now. What we can do is to improve on the TAP scheme, which is currently being reviewed by the TAP Board of Directors and Management.
“If the new improved scheme is successful, then we will make an announcement in the near future.”