The Delegates at its Annual General Meeting (AGM) decided to revise the Savings Incentive based on prevailing Market rates;
| Savings |
Savings Incentive |
| > RM 4,000 but < RM 10,0000 |
4% |
| > RM 10,000 |
5% |
- The following table illustrates your earnings on a monthly Subscription of RM 100-00.
| RM 100 Monthly Subscription |
| No Of Years |
Annual Closing Balance |
Savings Incentive Earned |
Total Savings Incentive Earned YTD |
| 1 |
1,200 |
|
|
| 2 |
2,400 |
|
|
| 3 |
3,600 |
|
|
| 4 |
4,800 |
240 |
240 |
| 5 |
6,000 |
|
|
| 6 |
7,200 |
504 |
744 |
| 7 |
8,400 |
|
|
| 8 |
9,600 |
864 |
1,608 |
| 9 |
10,800 |
|
|
| 10 |
12,000 |
1,200 |
2,808 |
| 11 |
13,200 |
|
|
| 12 |
14,400 |
1,440 |
4,248 |
| 13 |
15,600 |
|
|
| 14 |
16,800 |
1,680 |
5,928 |
| 15 |
18,000 |
|
|
| 16 |
19,200 |
1,920 |
7,848 |
| 17 |
20,400 |
|
|
| 18 |
21,600 |
2,160 |
10,008 |
| 19 |
22,800 |
|
|
| 20 |
24,000 |
2,400 |
12,408 |
- Savings Incentive is paid based on the Annual Closing Balance in your subscription account. Our Annual Closing is on 31st December of every year.
- A member becomes entitled for the Savings Incentive once his / her Subscription Savings is above RM 4,000.
- A member will continue to earn the Savings Incentive on every subsequent increase of RM2,000.
- All Savings Incentives earned by the member shall be held in a Suspense Account for a year. The Board has decided to vary this requirement, instead of holding the monies in the Suspense Account the Board has decided to pay the incentive earned directly to the member BUT such payments shall be deemed as advances.
- Should a member resign or stop the monthly subscription before the 1 year tenure is completed, the monies paid in advance shall be subtracted from Subscription Savings.
