What is TAP & SCP Scheme Account?
TAP account is the account that accumulate TAP contribution from Member and Employer. The use of 100% of the savings is for a pre-retirement purposes.
SCP account is the account that accumulate SCP contribution from Member and Employer which is use for retirement purpose.

TAP & SCP Account Benefits
The contributions made into TAP and SCP accounts are the savings accounts that will receive the following benefits:

Accumulation of Contributions
All contributions (Member and Employer's mandatory and voluntary) are credited into the TAP and SCP account according to the contribution rates for each account, ensuring that Member's savings grow over time.

Lump Sum TAP Withdrawal at Age 55
Members can withdraw 100% of their savings in TAP account as a lump sum at 55 years old before converting to SPK. This provides the Member with a significant fund that can be utilised to prepare for their retirement.

Pre-Retirement Withdrawal
Eligible Members can make partial or full withdrawals from their TAP and SCP Account for specific needs according to TAP and SCP Act.
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Survivorship Benefit for Deceased Member Beneficiaries
The beneficiaries of the Members are protected by Survivorship Benefit in case of the Member is deceased.
Does TAP & SCP Account receive dividend?
Yes, at a rate of 2.5% per annum
TAP and SCP Account earn dividends at an annual rate of 2.5%, allowing Members to earn returns on their savings and further enhance their retirement funds.
