Supplemental Contributory Pensions Trust Act · 2026 Revised Edition · Part · Contributions to Trust
7. Establishment of Supplemental Contributory Pensions Trust
Official textFrom Attorney General's Chambers, unchanged
For the purposes of this Act, there is hereby established a trust to be known as the Supplemental Contributory Pensions Trust into which shall be paid all contributions authorised under this Act and out of which shall be met all payments authorised to be paid under this Act.
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Each member shall be assigned an individual account within the
member
“member” means a member of the Trust to whose credit any amount is standing in the Trust, and includes a self-employed person who contributes to the Trust voluntarily under section 9;
Trust to be called the SCP account to which all contributions for that member shall be credited, excluding that portion of contributions to be paid into the survivorship protection fund under sections 8, 9 and 10.
An annual dividend reflecting the income generated from investment of the Trust also shall be credited to the SCP account.
annual dividend
“annual dividend” means the rate of dividend on SCP account balance of members declared annually by the Board under section 7(6);
An annual dividend shall be payable on the SCP account balance at such rate as the Board may declare.
SCP account balance
“SCP account balance” means the sum of money standing to the credit in the SCP account of a member;
The Board shall not declare a rate of annual dividend except with the approval of the Minister.
Board
“Board” means the Tabung Amanah Pekerja Board established under section 3 of the Tabung Amanah Pekerja Board Act;
The Board, with the objective of reducing fluctuations in the rate of annual dividend from year to year, may not declare a rate of annual dividend in any one year which is higher than the average of actual total annual return on investments of the Trust over the 5 years up to and including that year, calculated following internationally accepted accounting principles and standards for valuing investment portfolios; the surplus from years where the declared rate of annual dividend is lower than the actual total return shall be accounted for separately and used solely for allocation to members’ SCP account balances in years where the declared rate of annual dividend is higher than the actual total return.
During the first 4 years, the Board may not declare a rate of annual dividend in any year which is higher than the average annual total return up to that year since the establishment of the Trust.
Supplemental Contributory
Pensions Trust 16
If the Board is at any time unable to pay any sum which the Trust is required to pay under this Act, the sum required to be so paid shall be charged on and advanced to the Board from the Consolidated Fund and the
Fund
“Fund” means the Tabung Amanah Pekerja Fund established under section 11 of the Tabung Amanah Pekerja Board Act; Supplemental Contributory Pensions Trust “Hukum Syara’ ” means the laws of Islam according to the Shafi’ee, Hanafi, Maliki or Hanbali sect of Ahlis Sunnah Waljamaah;
Board shall as soon as practicable repay to the Government the sum so advanced.
Terms defined in s 2
annual dividend
Defined · s 2“annual dividend” means the rate of dividend on SCP account balance of members declared annually by the Board under section 7(6);
Board
Defined · s 2“Board” means the Tabung Amanah Pekerja Board established under section 3 of the Tabung Amanah Pekerja Board Act;
Fund
Defined · s 2“Fund” means the Tabung Amanah Pekerja Fund established under section 11 of the Tabung Amanah Pekerja Board Act; Supplemental Contributory Pensions Trust “Hukum Syara’ ” means the laws of Islam according to the Shafi’ee, Hanafi, Maliki or Hanbali sect of Ahlis Sunnah Waljamaah;
member
Defined · s 2“member” means a member of the Trust to whose credit any amount is standing in the Trust, and includes a self-employed person who contributes to the Trust voluntarily under section 9;
SCP account balance
Defined · s 2“SCP account balance” means the sum of money standing to the credit in the SCP account of a member;
survivorship protection fund
Defined · s 2“survivorship protection fund” means the survivorship protection fund referred to in section 7(4);
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