SPK Gold Generation (Age 60 and Above)
SCP Members who received SCP 60 years old annuity payments on a monthly basis previously were converted to the SPK Gold scheme at the implementation date of SPK on 15th July 2023 and have been receiving SPK annuity ever since. Under the new SPK Gold scheme, the Government will make contributions to ensure that Members receive a lifetime annuity payment of at least $250.00.
Yes, you can join SPK even if you had previously made a lump sum withdrawal from the SCP scheme. As an SCP Member, you will be eligible to join SPK Gold and receive SPK annuity payments of not less than $250 per month. To proceed with receiving SPK Gold, please visit any TAP branch and complete the required form. Ensure to bring your original Identity Card (IC) and relevant bank account details such as a bank card, bank statement, or bank book, as your SPK annuity payments will be transferred directly to your bank account every month. Please note that this provision is applicable only to Yellow IC holders and Purple IC holders without foreign citizenship.
No, A top-up is not required to receive the updated minimum annuity of $250 per month.
No, Individuals who are currently receiving a government pension are not eligible to receive the SPK annuity benefit.