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My retirement savings

April 17, 2008

I have been contemplating to withdraw some part of my Employees Trust Fund savings and I have to make a decision sooner than later. I know if I do decide to go ahead, this will be my life-long investment – buying a house. I have checked the requirements and procedures of withdrawing my savings – it looks simple and straight-forward. I am also qualified for the early withdrawal scheme which means that I can withdraw at least 40 % of the total savings. This is indeed a good investment as part of the amount to purchase my dream house would be from the mortgage. At least I don’t have to pay that much interest.

Still I am unsure. After all the money, though it’s mine, is meant for my retirement and even TAP wouldn’t allow for unneccasary withdrawals. We could not predict what would happen to us, not just in the future but even after this very moment. I have already planned on what I would do when I retire. I don’t like the idea of depending on my children, thinking that they might help or ‘pay back’ when I am old – not hoping here. Hopefully my health will allow me to be independent just like at this very moment.

I went to the nearest TAP office and enquired in depth on the process and procedure for early withdrawal scheme. The lady was nice and I felt at ease. I like their idea on the e-kiosks. If you are a member of TAP, you just need to insert your Brunei identity card and all your records would be shown. You can check your balance and see if your employer is really putting in the five percent contribution as required by Brunei law. It also shows the dividend rate for the respective year. I noticed that for the past four years, it has increased to 4.25% from 3.1%. Nice…

I would perform the special hajat prayer and hope that God will guide me to make my decision, amin.

15 Comments leave one →
  1. Adi permalink
    April 17, 2008 5:05 pm


    Need to do savings for your retirement?..Ever heard of BICB Capital Sdn Bhd?..a company wholly owned by BIA. We do investment planning for your retirement and you will have the opportunity to invest in a Syariah Compliance Fund (Insyallah have a potential return better than savings and Fixed Deposit in Banks).

    Probably i can set an appointment with you?..drop me an email at

    Hope to hear from you soon.


  2. Ramble On permalink
    April 18, 2008 4:58 pm

    Salam Adi. Oic. Thanks. I didnt realise BIA has a company. I will go there Adi Insya Allah. Did you mean capital protected? I know HSBC used to offer the guaranteed-capital return investment a couple of years ago. That’s assuring, at least we got back our capital.
    Also, does BICB has a website? I want to know or else would meet you. Thanks again for sharing.

  3. Adi permalink
    April 19, 2008 11:09 am


    At the moment BICB Capital doesn’t have any website yet. So probably i can make an appointment with you, just to explain what we do here. Thanx 🙂

  4. Ramble On permalink
    April 23, 2008 12:07 pm

    salam Adi. Thanks thats nice of you. Are you open on Saturdays? Sorry, I should have emailed you…No wonder there was none when I googled it but just news on your soft opening. Is your office at that Bangunan Suria mentioned in BruDirect?

  5. Adi permalink
    April 23, 2008 2:00 pm


    Our address is at Unit 2, Grd Floor, Bgn. Suria, Lot 22076, Kg Kiulap BE1518. And yes, we’re open on Saturday. You just drop me e-mail for appointment. Thanx 🙂

  6. May 24, 2008 5:13 pm


  7. Ramble On permalink
    May 26, 2008 8:02 am

    Salam Jeffry. Insya Allah I will seek our investment champion in this blog, Adi (please Adi?), to enlighten us with the world of investment. There was a roadshow by BICB Capital Adi said held over the weekend…and I missed it 😦

  8. muaafi permalink
    June 20, 2008 3:57 am

    hi, bicb capital setahu ku join fund al ahli,mcmana dpt untung dri melabur dlm ekuiti ani?ada distribution ka utk setahun?atau cuma capital gain sahaja.tq.

  9. a-n-o-n permalink
    July 8, 2008 11:09 am

    Hi so how did ur meeting with Adi go? I know it’s been months. but i happen to stumble upon ur blog when i googled abt bicb.

  10. Ramble On permalink
    July 9, 2008 8:42 am

    Hi a-n-o-n. Thanks. I havent meet him personally but have been exchanging e-mails and Adi was kind enough to share some info with pics (Read the my post today). I will update it with fresh info after I meet him, Insya Allah. Its madness at the office with endless deadlines at the mo.

  11. Passerby permalink
    October 26, 2008 8:00 am

    Hi. Did you get to meet Adi? I’m curious as well of what you’ve learnt from him.I’d like to learn as well.I just started working as Education officer for a few mths n am looking for ways, other than the usual pithy bank savings,to invest for my future. Hope you’ll share your findings:)thanks…

  12. Ramble On permalink
    November 8, 2008 10:20 am

    Oh my Passerby. I was checking the date and the last time I replied was in July and up till now, I havent seen him. I will surely share the information as it seem that BICB and investment are two most searchable words in my blog. My personal word of advise is yes, invest apart from saving. All the best with your new posting Passerby.

  13. DevilRoshan permalink
    December 17, 2008 9:47 pm

    yoyo…try BICB man…its good and fun too…for ur future..Bruneians!lets us invest for our future generation economy

    • Ramble On permalink
      December 25, 2008 11:27 pm

      Good one Devil. I agree. Investment is better than saving, so I learnt.


  1. My retirement savings « Younger Every Year

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