The ratio of Surplus Sharing is according to the proportion specified in your certificate document.
Download documents
FAQ
The Distributable Surplus is the excess in the Tabarru` Fund after deducting all claims payable and reserves. As a Participant of our takaful plan, your contribution is retained in your participant account where a portion of the contribution will be deducted and pooled into the Tabarru` (or Donation) Fund for the purpose of mutual aid and assistance among fellow Participants.
Investment Profit earned by the Tabarru` Fund will also contribute to the distribution to Participants. Depending on when your certificate was issued, certificates issued before 5 Sept 2011, will receive Investment Profit separately to the Underwriting Surplus mentioned above. Certificates issued from 5 Sept 2011 onwards will have their Investment Profit combined with the Underwriting Surplus determined above. This difference is the result of the Takaful Operational Framework (TOF) implementation by Bank Negara Malaysia (BNM) i.e change in regulatory requirements.
The Underwriting Surplus available (if any) and Investment Profit will be shared according to the proportion specified in your certificate document between you and PruBSN. Underwriting Surplus and Investment Profit declared are subject to approval by PruBSN Shariah Committee and Board of Directors.
There will be no underwriting/ distributable Surplus if there is no excess in the fund after deducting all claims payable and reserves.
Generally, you and all participants will be considered for Surplus distribution (if any) on an annual basis. Provided that your certificate is in-force on the 31st December of that financial year.
Underwriting Surplus is the excess in the Tabarru` Fund after deducting all claims payable and reserves. Investment Profit is the profit arising from investment of Tabarru` Fund.
No, the surplus is payable from Tabarru’ Fund.
No, Participants do not have to pay additional contribution for poor investment return on Tabarru` Fund.
Surplus received by Participant is not subject to personal tax.
The mechanism to distribute and allocate the Surplus and Profits to each Participant takes into consideration of Shariah considerations, equity among Participants, as well as the practicality of the distribution. It is in accordance with PruBSN’s Family Takaful Surplus and Investment Profit Management Policy, approved by relevant parties including the Shariah Committee of PruBSN.
Surplus payout
For in-force certificates, SMS will be sent to eligible Participant. This surplus amount will also be disclosed in the following year’s Annual Statement to the participants.
For out-of-force certificates, Surplus will be transferred to Participants by way of e-credit into their last known bank account. SMS/letter will be sent to notify the Participants.
Surplus information is also published in the corporate website.
For in-force certificates, Surplus will be credited into participant’s investment account; Participant Unit Account (PUA), Individual Special Account (ISA) or MaxiShield Account (MSA).
For out-of-force certificates, Surplus will be credited by way of e-credit into last known bank account. If we do not have your bank account details, a SMS/Letter will be sent to you requesting you to update your bank account details.
If Surplus is less than RM10 and no bank account details available, the Surplus will be paid to charitable organization(s) managed by PruBSN’s charity arm, PruBSN Prihatin, and subject to approval by PruBSN Shariah Committee.
No, you can’t. We will still pay to your certificate investment account as per the provision in your certificate document.
