TAP Housing Withdrawal Scheme
By Hjh Saemah Zulkefli

The Tabung Amanah Pekerja (TAP) board has recently set up a Housing Withdrawal Scheme under Chapter 17(2)(b)(c) of the TAP Act Para 167 for its members. The scheme is one of the steps taken to lessen the burden of TAP members in basic needs such as building of houses and such.

A TAP officer said since the scheme was introduced, their department had received many enquiries with regards to the matter - although procedures were stated in the application forms. Some members thought that after 10 years of contribution, they would then be allowed to withdraw 45 per cent of the value and some thought the withdrawal can be for any use whatsoever.

In relation to this, the officer said that withdrawal would only be allowed for the Housing Scheme I and II, which stipulates that applicants must be TAP members for at least 10 years and had been contributing for at least 5 years or having a minimum saving of $40,000.

He also added that for Housing Scheme I Withdrawal, only 20 per cent of the house value could be withdrawn from TAP savings.

For Housing Scheme II withdrawals from TAP savings would only be 10 per cent of the price of the house to be purchased for houses costing $150,000 and above or 15 per cent if the house costs less than $150,000. Withdrawals from TAP savings cannot exceed 45 per cent of the total contribution of TAP members who are applying for the scheme.

TAP members from private sector who have made contributions from January 1994 and have actively been contributing for five years will be given the chance to apply for the scheme next year, the officer added.

Members of the public are reminded that withdrawals are only for renovations, repairs or maintenance of the house they own.

Confirmation letters from the Housing Department for those living at the National Housing Schemes or Indigenous Citizens. Approval letter from the District Office for members living in the Kampong Ayer area are also required for applications.

According to the officer, TAP savings are for the elderly days especially after retirement from work. Apart from giving special withdrawals, full withdrawals for members aged 55, TAP also has withdrawals for Disabilities Scheme, Migration Withdrawal Scheme and Will Right Withdrawal to rightful beneficiaries.

Courtesy of Borneo Bulletin