SPK Self-Employed

1. Citizen or Permanent Resident of Brunei Darussalam.
2. Below 60 years old.
3. Not currently employed in the formal sector (i.e, no Employer)
4. Owns a company or business with no Employees.

To register as SPK Self-Employed, you only need to upload a copy of your identification card in e-Amanah during signing up.

To become a Verified SPK Self-Employed Member, you are required to upload additional supporting documents from the relevant authorities through the e-Amanah platform. Please refer to the list of required documents here.

• Unverified SPK Self-Employed: Members can voluntarily contribute monthly up to $1,000 with no minimum amount. The contribution will be credited to the SPK Member Account.

• Verified SPK Self-Employed: Members can contribute between $17.50 and $40.00 and will be eligible to receive the Government’s Match-Up of $17.50 per month. 

Contribution less than $17.50 will not receive Government Match-Up and will be credited into the SPK Member Account. For contribution of more than $40.00, the excess amount will also be credited into the SPK Member Account.

With the implementation of SPK, SCP Self-Employed contributions will be adjusted based on the contribution amount and Government participation.

• If a SCP Self-Employed Member contributes an amount that is not eligible for Government Match-Up (i.e., less than $17.50 or more than $40.00), the contribution will be credited to the SPK Member Account.
• If the Member contributes $17.50 per month (or up to $40.00) and qualifies for the Government Match-Up, both the Member’s contribution and the $17.50 Government contribution will be credited to the SPK Retirement Account.
  
  This helps build a stronger SPK Annuity for the Member upon retirement at age 60.

SPK SE Formula:

Your Contribution + Government Match-Up Contribution = Credited to SPK Retirement Account

All contributions will be credited as voluntary into your SPK Member Account. You will not receive the Government Match-Up, but you will still get the benefits available under your SPK Member Account.

No, your current SPK Member account number will remain the same. A new account is not required. 

Yes, if you meet the registration criteria to be a SPK Self-Employed Member, you can register online via e-Amanah. 

Upon successful registration:

● You will be issued an SPK Member Account

● You can begin making contributions

By contributing the qualified amount, you will be eligible for the Government’s Match-Up contribution and will be considered productive. Maintaining higher productivity can positively impact the amount of SPK Annuity you receive when you retire at age 60.

No, you don’t need to inform TAP directly.

● Your status will be updated automatically when your new employer registers you under their organization.

● You may provide your existing SPK Member Account number to your employer to continue saving under the same account.

If the SPK Self-Employed Member's verification document expires, they will not receive the Government Match-Up, and the contributions received will be credited as voluntary contributions into their SPK Member Account. 

It is advisable for Members to renew their verification document to continue to receive the Government Match-Up. Failure to renew the verification document may affect the Member's productivity period and subsequently impact their SPK annuity payout.

To receive the $17.50 Government Match-Up, verified SPK Self-Employed Members must:

● Contribute the required amount by the 15th of the following month.

For example, to receive the Match-Up for April’s contribution, payment must be made no later than 15th May.

● If a second contribution is made for the same month before the deadline, it will be considered a voluntary contribution and not matched by the Government.

● Members must ensure their self-employment verification document is renewed  and updated annually via the TAP online portal, e-Amanah.

Voluntary contribution can be done via online by following the steps here.