Wednesday, May 22, 2024
27 C
Brunei Town

TAP inspects home projects tied to SPK withdrawals

The Employees Trust Fund (TAP), through its Enforcement Unit, conducted inspections on several construction and home renovation projects in Kampong Salambigar, RPN Kampong Mengkubau and RPN Kampong Mentiri recently.

The visits aimed to ensure that home renovation works are being conducted by contractors.

Such visits will be carried out more often as part of TAP’s process to assist its members in meeting the objective of the National Retirement Scheme (SPK) Home Renovation withdrawals.

TAP in the press statement advised its members to be wary of companies or contractors that do not carry out their constructions works or offering cash withdrawal service to members by accepting commissions for such services.

Such housing withdrawal, other than for housing purposes, can affect the members when they need additional financial resources for their homes in the future.

Forgery of documents by companies and contractors, such as providing contracts or documents for the purpose of obtaining approval for the withdrawal without any actual construction, purchase or renovation of the house are regarded as violations.

If found guilty, the company or contractor may be subjected to penalties under Section 35 of the National Retirement Scheme Order 2023 for not using the relevant housing withdrawal payments.

A fine of up to BND3,000 for the first offence and a penalty of BND10,000 for the subsequent offences will be imposed. – Rokiah Mahmud