Housing Fund Scheme Brunei : tap.com.bn

Organization : TAP
Scheme Name : Housing Fund Scheme
Country : Brunei
Website : tap.com.bn/wps/portal/tap/ourservices/Housing%20Fund%20Scheme/!ut/p/b1/lZHLDoIwEEW_hS_otJBSltWE0vgAQhqxG8LKkCi6MH6_BVdYnersmp6Tm5lLLGmJHfvHcOrvw3Xsz9Pb8s7AfpuY3DTMyBR0nNYrowSASBxwXAB6J0BnBd80RcFAsKUvVe6-qVBxKRmF0vPfAMV_y4cvIwHNX6eBfAdgfkMDvgMwHzy_nvbSVFU8q-QM_Hd_P8Di9eC-KyiQfyAWXXFqcAl8WHEGkA5vF_OaFgYto-gJtOxLmg!!/

Housing Fund Scheme :

What is the objective of the Housing Fund Scheme?
The objective of this fund is to encourage citizens of Brunei Darussalam who are members of TAP to own a house within one’s means by practicing the habit of savings.

Related : e-Amanah Registration Brunei : www.statusin.org/29925.html

Who are the target group of this scheme?
The target group of this scheme is TAP members who are citizens of Brunei Darussalam (yellow identity card holder) and receive monthly income of not exceeding B$2,000.00, or household income not exceeding B$4,000.00 per month (for both husband and wife).

What is meant by monthly income?
The definition of monthly income is under this scheme is following the definition of ‘salary’ in the TAP Act.

Eligibility :
What are the conditions for participating in this Scheme?
** A citizen of Brunei Darussalam (Yellow Identity Card)
** Aged 55 years and under
** Does not have a house either for themselves or his wife/her husband
** Does not receive a monthly pension from his service with the Government.

How can a member participate?
TAP members who have met the conditions to participate in the scheme may register through TAP counters. Application form, which is the Housing Fund Scheme Registration form, may be obtained from any TAP counters or the TAP website

Contribution :
How much is the contribution rate?
This Scheme is by voluntary only. The amount of monthly contribution depends on the participants’ financial capability.
Are employers required to contribute?
Since this scheme is a voluntary savings scheme, hence no contribution from the employer is required.

Scheme Benefits :
Guaranteed Dividend Rate :
** The Government will provide a guaranteed dividend rate of 3% per annum on the savings made under this Scheme, which is the average saving’s balance for each Financial Year.

** At any time that the TAP’s dividend rate is lower than 3%, the Government will provide assistance to top up any shortfall in the dividend declared by TAP for that financial year.

** This benefit will only be extended to individual participants who receive basic salary not exceeding B$6,000.00 per month.

Home Ownership Financial Assistance :
The Financial Assistance under this Scheme is exclusively for the participant of this Scheme whose average monthly income in the last 24 months preceding the date of the application is not more than B$2,000; or household income of not more than B$4,000 per month.

FAQs :
1. Can I pay for TAP and SCP schemes contribution online?
** Effective 1st November 2016, Employers are required to make their contribution payments via e-Amanah.

** Members and employers who have registered to e-Amanah online services can make their contribution payments for both TAP and SCP online.

** Members and employers who have not registered may register online via TAP’s website, under the e-Amanah tab. (e-Amanah Employers’ Handbook can be downloaded from TAP’s website)

2. From which banks can I use to make payments on e-Amanah?
Payment can be done through the internet banking facilities from BIBD, Baiduri Bank and SCB.

3. Do I need to pay TAP and SCP scheme contribution separately?
** No. Effective 1st April 2014, the payment of TAP and SCP contributions can be made in one payment by using e-Amanah.
** Payments that are made using cheque, postal order, or money order shall be made payable to the ‘ Tabung Amanah Pekerja ’.

4. Where can I get my TAP and SCP statement account?
Member’s Account Statements can be obtained from e-Amanah online service via Official website or by using TAP’s e-Info Kiosk.

5. What was the rate of dividend declared in the last 3 years for TAP and SCP scheme?
The dividend rate for TAP and SCP scheme for the last 3 years :
** 1.0 percent for the period from 1st April 2013 to 31st March 2014,
** 1.0 percent for the period from 1st April 2014 to 31st March 2015 and
** 1.0 percent for the period from 1st April 2015 to 31st March 2016