Skim Persaraan Kebangsaan

Self-Employed Derivative Benefit

Learn more about the benefits that Self-Employed Member's dependant receive from SPK Retirement Account when a Member is deceased.

What is a Derivative Benefit?


A derivative benefit is a benefit received by the Member's dependants when the Member has passed away.

There are two types of benefits that a Member's next-of-kin will receive upon the Member's death:

  1. The balance of the SPK Member Account will be distributed to the beneficiaries according to Syariah Law or the Member's will.

  2. The Derivative Benefit from the SPK Retirement Account will be received by the Member's dependants.

​In the event of a Member's Death


SPK Self-Employed Members will be protected under the Derivative Benefit.


The Derivative Benefit provides support for the Member's eligible dependants, aiming to ease their financial matters due to the sudden loss of support following the Member's passing.


If there are no eligible dependants, the balance of the Derivative Benefit will be given in a lump sum to the next of kin or Administrator Nominee.

Eligible Dependants



Husband or wife who has not remarried



Children below 21 years old and not married



Parents of members who are not married

Understanding the Derivative Benefits timeline

If a Member Passes Away at Age 60:

  • Period receiving Derivative Benefit: 15 years.
  • Amount: $400.00 per month ​or ​​50% of the latest annuity estimates, whichever is higher.

  • Dependant Eligibility: Minimum of $400.00 if the deceased Member had contributed for at least 25% of the membership period as a TAP Member or had contributed in the past 3 months before death.

Age

60 years old

75 years old

If a Member Passes Away Between the Ages of 60 and 75:

  • The dependant will receive payments for the remaining period until the Member would have reached age 75 (assuming the Member were still alive).

  • Amount: $250.00 per month ​or ​​50% of the latest annuity estimates, whichever is higher.

  • Dependant Eligibility: Minimum of $250.00 if the deceased Member had contributed for at least 25% of the membership period as a TAP Member or had contributed in the past 3 months before death