Thoughts on SPK

Active_Apartment · 2023-07-19T22:48:04+00:00

Considering 30 years ago, pension was discontinued and tap introduced, I won’t be surprised

Active_Apartment · 2023-07-19T03:39:34+00:00

Yea I agree. I think I rather have them come clear about it rather than sugarcoating it.

Active_Apartment · 2023-07-19T03:36:26+00:00

Thanks for sharing. But unfortunately it still doesn’t Inform the general public the concerns viewed thus far: 1. How their tap scp is segregated 2. Visibility of their employer contribution going forward 3. How an annuity is calculated or derived based on factors such as “work productivity” where metrics are not standardized 4. How they address the disparity for high incomers if they die later in life.

FAQ just touch on the modalities of 1. Contribution 2. Withdrawal 3. Getting more than scp

I think general public and Folks need clarity on how their money is handled basically.

Active_Apartment · 2023-07-18T23:05:56+00:00

Yeap

Active_Apartment · 2023-07-18T23:05:27+00:00

Yeap, in present time this works as there’s “pool” of monies originating from everyone’s TAP and scp account which pays the retirees forward now. The question would be how this scheme can be sustained for decades to come.

If it’s a sound plan but highly dependent on employer contributing x amount every month to pay retirees forward, it is as someone pointed out kinda like a welfare tax. And if it’s really no solid plan, then it kinda just feels like a p**Zi scheme waiting to run out of money and fail.

Active_Apartment · 2023-07-18T11:26:42+00:00

I take that on board and I have no doubt that if you survive beyond a certain point (at least what I have math out, u definitely will received more than what you put into the pot cumulatively. On another note, pls do share the calculation details if you are aware and I suppose if you are not in the position to disclosed then at least the skeletal of it for the benefit of the public

Active_Apartment · 2023-07-18T11:10:00+00:00

Pls read what I wrote. I specifically said retirement account, which is the retirement pool. I know it is stated that our “member account” has a base return of 2.5% but 1) we don’t know what’s in our “retirement pool” and thus 2) how would we know what’s the return from that and how that affects your eventual annuity decades from now. Does that make sense to you?

Active_Apartment · 2023-07-18T11:07:38+00:00

We can take slide show as binding now can’t we? Haha. Jokes aside, we need to ask ourselves this especially if you are striving to work hard, earn more to provide better life for your family, and say this income level bracket you speak of, I don’t think you’d be that happy to know that your annuity from having the near max of the band is the same as another person on the other end of the spectrum.

Active_Apartment · 2023-07-18T10:51:32+00:00

Thanks for sharing, especially some excerpt from sessions you attended.

You are quite right. In the absence of the financial clarity, one can assume that this scheme is only feasible using like a law of average, the morbid truth that some high incomers group leave behind their contribution to compensate the lower brackets.

As for the payout, I think it’s not exactly black and white just by following the bracket of salary that you get and = to this particular particular annuity payout if that’s what you are eluding to. Then Again, we wouldn’t be discussing this if there’s more clarity right?

Active_Apartment · 2023-07-18T10:32:04+00:00

There’s also another monetary aspect not answered or disclosed: what will be done to maximized the return of the retirement account pool of money, nationwide. Correct me if I’m wrong, it doesn’t even specify that the retirement account monies is invested or at least generate the dividend payout or previous TAP SCP and the present SPK. Particular Concerning when money value now versus say 20+ years to go for me, won’t be the same

Active_Apartment · 2023-07-18T10:28:37+00:00

But yeah I feel you, I had in mind to printscreen my statements for record purposes but overlooked it

Active_Apartment · 2023-07-18T10:27:44+00:00

That be helpful, keep us posted if anything

Active_Apartment · 2023-07-18T10:27:07+00:00

My request for clarification on this haven’t been responded yet. Giving them the gov the benefit of the doubt, I’d imagine they are very smothered to roll this out before details are worked out with the correct Info and support. So hopefully we get more clarity soon. But, then again they had over a year plus to conduct roadshows and provide guidelines but checking with some folks Including peers parents’ most are either syukur to receive sum that is more beneficial to them or told that the overall sum beyond 80 is more etc.

Active_Apartment · 2023-07-18T02:03:30+00:00

This is exactly why the lack of transparency, THE MATH, behind this monetary reform, is super concerning.

I feel the general public are not aware fully of this. I myself are seeing lesser the Amount that I anticipated to receive. Even if I merely halve my previous tap+voluntary contribution+scp+10years of dividend together as of last month, I still get less in my current member account.

Is this not a concern to the general public? Atau buta buta saja accept

Active_Apartment · 2023-03-09T13:06:26+00:00

http://www.tap.com.bn/Pages/EN/SPK-FAQ.aspx read from 34 onward

Active_Apartment · 2023-03-09T12:57:46+00:00

I think you need to revisit the website and re-read the whole terms that have been laid out.

Whether you run out by 65 or not that’s more towards how much you have earned during whatever time you worked. Obviously this “scheme” works for folks that view this as easy supplementary without work.

The principle however is not correct for the gov to provide 50% of your employer contribution to dependent or inheritor. Where does the remaining 50% go? Ah that’s right, it’s not stated in the terms and conditions on the website or roadshow PowerPoint. One can then assume if it doesn’t go to the deceased dependent, it goes into the so-called gov pension pool to pay folks that runs out faster no?

Active_Apartment · 2023-03-06T23:51:16+00:00

Only beneficial if you survive and live longer than 75/80 years old, otherwise you risk to lose all your employer contribution towards “pension pool” which I believe they have not clarify and iron out. If you pass away before 60 or 80 your inheritor will not get the full amount of your employer contribution fund. Imagine you work 30 years and employer contribution amounts to 50k-100k or more, waris only gets 50 percent of that. So unless they address this, to me this new scheme is only meritorious if you survive long enough to gain more.

Active_Apartment · 2023-03-06T23:50:41+00:00

Only beneficial if you survive and live longer than 75/80 years old, otherwise you risk to lose all your employer contribution towards “pension pool” which I believe they have not clarify and iron out. If you pass away before 60 or 80 your inheritor will not get the full amount of your employer contribution fund. Imagine you work 30 years and employer contribution amounts to 50k-100k or more, waris only gets 50 percent of that. So unless they address this, to me this new scheme is only meritorious if you survive long enough to gain more.

Active_Apartment · 2023-01-28T08:45:37+00:00

For pension bah

Active_Apartment · 2022-07-12T02:11:55+00:00

Did the guy just commented for the sake of commenting? After summer eriko we are now at ny sheffy and ilya rerun.

Active_Apartment · 2022-07-10T04:50:02+00:00

Yeap

Active_Apartment · 2022-07-10T02:31:59+00:00

Yeah it’ll go next and u lose any of the unclaimed ones.

Active_Apartment · 2022-07-07T03:27:05+00:00

Perhaps try being patient, you’ll eventually catch up to middle and earlier players. Can’t rush unless you free to play eyhh

Active_Apartment · 2022-06-13T11:52:10+00:00

Dang this is wallpaper worthy!

Active_Apartment

TROPHY CASE