What is the SPK Member Account?
The SPK Member Account is where all contributions made by the Member, as well as voluntary contributions from both the Member and the Employer, are credited.
Employees will contribute 8.5% of their basic salary each month into the SPK Member Account. This account can be used for pre-retirement purposes.

SPK Member Account Benefits
The SPK Member Account is a savings account that offers the following benefits:

Accumulation of Contributions
All contributions (mandatory and voluntary) are credited to the SPK Member Account, ensuring that the Member's savings grow over time.

Lump Sum Withdrawal
at Age 60
Members have the option to withdraw 100% of their savings as a lump sum upon reaching age 60. This provides Members with a substantial fund to utilize during retirement.

Pre-Retirement
Withdrawal
Eligible Members can make partial or full withdrawals from their SPK Member Account for specific needs before reaching age 60. These withdrawal options offer flexibility in accessing your savings based on your circumstances and needs throughout your working life and during retirement.
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Does the SPK Member Account Receive Dividends?
Yes, at a rate of 2.5% per annum
The SPK Member Account earns dividends at an annual rate of 2.5%, allowing Members to earn returns on their savings and further enhance their retirement funds.
