What is the purpose of the Scheme Withdrawal?
All Members are allowed to withdraw from their account once they have met the eligibility terms and conditions.
The objective of the scheme withdrawal is to enable Members to address their pre-retirement financial needs. This includes owning a house, settling or reducing loans, funding children's education, investing for future financial needs, and more.
Friendly Financial Literacy Reminder:
Focus on your needs when planning to withdraw. Withdrawing will deplete your savings for when you reach 60 years old.
Types of SPK Withdrawal
SPK Incapacitation Withdrawal
SPK Terminal Illness
SPK Renouncing Citizenship Withdrawal
SPK Next-of-Kin Withdrawal
SPK Silver Generation Age 50 - 55 Scheme Withdrawal (born between 1968 - 1973)
Members aged 50-55 years old (born between 1968-1973) who deferred conversion to SPK are still in the TAP and SCP scheme. Hence, these Silver Generation Members follow the TAP and SCP scheme withdrawal eligibility terms and conditions. When necessary and eligible, they are allowed to make the following withdrawals before converting to SPK.
TAP Scheme Withdrawal
TAP Housing Withdrawal
TAP 55 Years Old Withdrawal
TAP Emigration Withdrawal
TAP 50 Years Old Withdrawal
TAP Incapacitation Withdrawal
TAP Next-of-Kin Withdrawal
SCP Scheme Withdrawal
SCP Emigration Withdrawal
