An excerpt of
His Majesty the Sultan and Yang Di-Pertuan
Negara Brunei Darussalam's royal speech
15 July 2012 at the Balai Singgahsana Istana Nurul Iman

"Satu Skim Tabungan Perumahan, diwujudkan khusus untuk ahli-ahli TAP rakyat Negara Brunei Darussalam. Keutamaan mengujudkan Skim ini ialah sebagai bantuan kepada ahli-ahli TAP yang berpendapatan rendah. 
Skim sukarela atau voluntary ini, akan melayakkan peserta-pesertanya untuk menerima manfaat-manfaat tertentu, antaranya jaminan pemberian pulangan tahunan dengan kadar tertentu; dan bagi peserta yang pendapatan keluarganya (household income) tidak melebihi $4,000 sebulan, akan layak untuk dihulurkan bantuan Kerajaan berjumlah tidak melebihi $25,000."


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.
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.



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 at www.tap.com.bn.



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.


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.