Provident Funds

Overview

TMBAM offers new versatility in provident funds. You can individually select how you wish to invest.


As unique individuals …. We lead different lifestyles. While we may share the same vision of a comfortable retirement, each will likely step towards that goal at a different pace and may even pick a different route. TMBAM understands and recognizes the ‘difference’ in each of us. TMBAM therefore offers members of our Provident Funds the privilege to choose the investment that matches their preference. Close support is provided by our investment planners, giving sound advice to help you reach that investment goal.


What is a Provident Fund? How is it important?



A Provident Fund is jointly established by the employer and its employees on a voluntary basis, enhancing an employee benefits package. It provides financial benefits to members who resign, retires, are disabled or deceased. A Provident Fund is an important sum of money that helps members and their families financially cope with their future.



What does the Provident Fund’s money consist of?



A Provident Fund is composed of 4 parts namely:
1) Money contributed by the employee, referred to as “employee’s contributions”
2) Money contributed by the employer, referred to as “employer’s contributions”
3) Benefits generated from employee’s contribution, referred to as “returns from employee’s contributions”
4) Benefits generated from employer’s contribution, referred to as “returns from employer’s contributions”

Both the employer and employee must contribute to the fund every month, each party committing to contribute an amount of between 2-15% of the monthly salary.