Citizens and Permanent Residents of Brunei Darussalam being employed in Public and Private Sector; and below the age of 60 years old; are compulsory to participate in the SCP Scheme. However, those who are employed under the Public Service Pensionable Post or receiving the Public Service monthly pension are exempted from joining this scheme.

If the member’s monthly salary is below B$500.00 and base on the contribution rate of 3.5%, his contribution amount is less than B$17.50, His Majesty’s Government will top up this short-fall so as to ensure that the member’s contribution meet the minimum amount of B$17.50. This is applicable to both the public and private sector. However, employers are still required to pay the minimum contribution of B$17.50.

Montly salary	B$400.00
3.5% of employee salary	B$14.00
Government Top-up	B$3.50
3.5% from employer	B$17.50
Total SCP Contribution	B$35.00

As for the self employed members, they are required to make a continuous monthly contribution of B$17.50. His Majesty’s Government will contribute a sum of B$17.50 into the member’s account as a replacement of the employer’s contribution; so as to ensure the minimum amount of B$35.00 is met every month.

CATCH-UP PAYMENT

Catch-up payment is a back-dated contribution payment made by His Majesty’s Government to the Transition Generation that is Citizens and Permanent Residents of Brunei Darussalam who are members of Tabung Amanah Pekerja on 31^st December 2009 and who have not attained the age of 55 years on that date.

The catch-up amount which is paid ‘front loading’ to the Transition Generation’s SCP accounts on 1^st January 2010 is at B$30.00 per month from the date they became TAP member or on attaining the age of 25 years, whichever is the later.

The objective of the catch-up incentive is to ensure that all participants have sufficient savings before they mandatorily retire to enable them to enjoy the benefit of SCP scheme.  This is because a number of participants cannot contribute for 35 years, which is the minimum period required, as they have reach above 25 years old when SCP Scheme was introduced.  The optimum vesting period to reach the SCP objective is to contribute not lower than the minimum amount consistently for at least 35 years or from the age of 25 years old.

SCP BENEFITS

Monthly Payment Benefits (Annuity) 

·         Members will receive a monthly payment of SCP savings upon attaining the age of 60 years for a period of 20 years.

·         The payable amount is determined by the member’s SCP Account balance.  However, the minimum payable amount is B$150.00 per month if the member has fulfilled the requirement of contributing 7% per month continuously for a period of 35 years. 

·         For a member who has attained the age of 60 years old and fulfilled all the requirements of contributing 7% for 35 years but does not have an adequate amount of saving to enable the payment of the minimum amount of B$150.00, His Majesty’s Government will top up this shortfall so as to ensure that the withdrawal of the minimum amount of B$150.00 per month can be made.

·         Where a member who has attained the age of 60 years old, has contributed less than 35 years and does not have sufficient amount in his SCP Account to enable the minimum annuity payment of B$150.00, he will not be receiving a monthly payment of B$150.00, instead he will received a lump sum payment that is equal to the accumulated amount in his SCP Account.  

Survivorship Benefit 

·         Survivorship benefit is a monthly payment made to the dependant (widow and children under 21 years old) of a member at an amount of B$400.00 per month if a member dies before attaining the age of 60 years old.  Eligibility for this benefit is subject to a member made a continuous contribution until the month immediately preceding the month in which he dies. The period of payment is 15 years with effect from the date the member dies.

·         Where a widow dies or re-marries, the balance of the survivorship benefit shall be paid to her children who are below the age of 21 years old and are entitled to receive this survivorship benefit.

·         Where a widow dies or re-marries and the member’s children who have received the monthly survivorship benefit have attained the age of 21 years before the expiry of 15 years period, the balance of the survivorship benefits shall be distributed to the deceased member’s beneficiaries in accordance of the Hukum Syara’.  If the deceased member was a non-Muslim, the distribution shall be made in accordance with the deceased member’s will or if there is no will, in accordance with the law relating to intestate succession.

Derivative SCP Benefit 

·         Where a member dies before attaining the age of 60 years, the balance in his SCP Account will be paid monthly to his eligible beneficiaries in accordance with the Hukum Syara’ if the deceased member was a Muslim; and if he was not a Muslim then in accordance with his will, and if there is no will, in accordance with the law relating to intestate succession.  The period of payment is 15 years with effect from the date the member dies.

·         If a member dies between the ages of 60 and 75 years, the balance in his SCP Account will be paid monthly to his eligible beneficiaries as above.  The period of payment is with effect from the date the member dies and continuing up to the time the deceased member would have attained the age of 75 years, if living. 

·         If a member dies after the age of 75 years, the balance in his SCP Account will be paid in lump sum to his eligible beneficiaries as above.   

EMPLOYERS AND EMPLOYEES REGISTRATION

Employers Registration

For companies that have registered with TAP before 31^st December 2009, TAP had automatically registered them under SCP.  For companies that registered with TAP after 31^st December 2009 or those which have not registered with TAP, they are required to complete the SCP 01 Form and submit to any TAP counters.

Members Registration

For employees who have registered with TAP before 31^st December 2009, TAP had automatically registered them under SCP.  For employees who have registered with TAP after 31^st December 2009 or any new registration, they are required to complete the SCP 03 Form and submit to any TAP counters.

MONTHLY CONTRIBUTION PAYMENT

Monthly contribution shall be submitted to any TAP counters not later than the 15^th day of the following month.  Payment is made by submitting the following documents:

a.      Completed SCP 02 form or preprinted SCP 02 form.  These forms can be obtained from TAP counters; 

b.      Cheque which is made payable to Lembaga Persaraan Caruman Tambahan, Persaraan Caruman Tambahan, or Supplemental Contributory Pension Board, or Supplemental Contributory Pension;

c.       Completed SCP Paying In slip.  The slip can be obtained from TAP counters.

For further information please contact the following:

Telephone no.                       : +673 238 4303 or

TAP Call Centre                   : +673 238 2800

Email                                      : scp@mof.gov.bn

Website                                  : www.mof.gov.bn