Provident Fund Services by SCBAM

SCBAM Provident Fund Services Overview

Provident fund services: provident fund members receive services and exclusive privileges offered by SCBAM, including features to enable you to download documents and investment reports easily by yourself

SCBAM Provident Fund Services

Main services

  1. Advisory services - Consultation and advisory services to help companies establish a provident fund, complete with follow up services to get the provident fund registered according to law.

  2. Provident fund management services - Invest the provident fund to seek the best returns as governed by the Provident Fund Act and the risk tolerance levels specified for investments.

  3. Produce reports required of the provident fund - Relevant reports associated with the management of the provident fund are generated such as investment reports, monthly incoming payment contribution reports, and balance statements for members which are distributed monthly and annually.

  4. Printing of cheques and withholding taxes - Printing of cheques payable to members who exit from the fund as notified by the Provident Fund Committee. Witholding taxes are also processed and submitted to the Revenue Department.

Additional Services for Members

  1. Providing Knowledge - Basic knnowledge about provident funds are provided to members. For Provident Fund Committee members, we also offer advice on investing, diversification, savings plans, investing through “Employee’s Choice”, etc.

  2. Statement Inquiries - We feature the ability for each member to be able to check their balances in the provident fund, including individual information regarding returns, through the website.

  3. Investment Reports - This feature is provided to Provident Fund Committee Members to allow them to obtain reports regarding the investment and payment contributions online through the website of SCBAM (unique user accounts provided to logon and access data).

  4. Member relations activities - Activities will be held to strengthen the relationship between the investment management company, Provident Fund Committee Members, and provident fund members, such as through training and conferences.

  5. Special services - Members may access the fully integrated financial services offered by the SCB Group such as

    1. Flexible choice of financial products - such as bank deposits, credit card, miscellaneous loans, etc.

    2. Tax Management - Invest wisely while simutaneously eligible for tax benefits through LTF funds; obtain protection and tax allowances from life insurance policies; receive

    3. Managing your future - involves making preparations for retirement life and utilizing the tax benefits offered by products such as RMF and life insurance.