TAP 55 Years Old Withdrawal

Learn more about TAP 55 Withdrawal's eligibility and requirements.

TAP 55 Years Old Withdrawal


Members who defer to join SPK can withdraw all of their TAP account balance when they have reached 55 years old. Once Member has withdrawn TAP 55 Years Old, the Member will be automatically converted to SPK scheme. The grace period for the deferred Member to withdraw TAP 55 Years Old Withdrawal is ONE (1) year.


If the Member has not withdrawn by 56 years old, the balance in TAP account will be distributed into SPK Member account and SPK Retirement Account and the Member will be automatically become an SPK Member. If this happens, the Member can still withdraw 30% of their SPK Member Account as an SPK Member. 


Member is encouraged to plan the withdrawal based on the pre-retirement or retirement needs and to spend the withdrawn savings wisely.   


SPK Age Withdrawal can be withdrawn for any purposes and not limited to the following:

  • Children's education;

  • Housing needs;

  • Additional budget for Hajj Pilgrimage or Umrah;

  • Investment to further secure your retirement or income;

  • Settling or reducing debts or loans before retirement;

  • Others.

Eligibility

Age


55 Years Old

Amount


100% of the TAP Account Balance.

Payment Method

Paid in

lump sum

to the Member

Documents Required

Ensure the documents required are complete before proceed with submission.

 A complete withdrawal application form.


  1. Copy of Member’s Identity Card.
  2. Copy of bank account details/statement or bank book.

Online TAP 55 Years Old Withdrawal Application

Skip the queue at TAP Branch and do it from your home.