SPK Gold Basic Benefits
Members who are Permanent Residents of Brunei Darussalam (Foreign Nationality) in the SPK Gold Generation will receive the following benefits from the SPK Retirement Account.
Receive annuity up to 20 years or until the balance is exhausted
Minimum Annuity of $500 per month
Annuity payment based on the Total SCP balance before SPK conversion
Things you need to know about SPK Gold Basic Member Annuity
Members with SCP balance ABOVE $12,000.00 (before SPK conversion):
If the SCP has already been withdrawn and the Member is receiving an SCP annuity :
Member will receive an annuity of $500 per month until the retirement savings balance is exhausted.
If the SCP has not been withdrawn at age 60:
The backdated SCP Annuity amount from age 60 until June 2023 will be fully credited to the SPK Member Account and can be withdrawn in full. Withdrawal is subject to SPK Member Account terms and conditions.
The remaining balance after SPK launch (15th July 2023) will be credited to the SPK Retirement Account, from which the Member will receive a monthly annuity of $500.00 until retirement savings balance is exhausted.
Members with SCP balance BELOW $12,000.00 (before SPK conversion):
If the SCP was previously received as Lump sum:
The Member will no longer have a balance available in the Retirement Account, as the entire SCP balance was already withdrawn.
