Chartered Financial Consultant® (ChFC®)
Individuals with the ChFC designation have demonstrated their vast and thorough knowledge of financial planning. The ChFC program is administered by the American College. In addition to successful completion of an exam on areas of financial planning, including income tax, insurance, investment and estate planning, candidates are required to have a minimum of three years experience in a financial industry position.
Like those with the CFP designation, professionals who hold the ChFC charter help individuals analyze their financial situations and goals.
Izam Said Ya'akub
BANDAR SERI BEGAWAN
Thursday, November 29, 2007
"IS 10 per cent enough?" That was the question which set the theme for yesterday's Tabung Amanah Pekerja (TAP) Financial Planning Roadshow at the Yayasan Sultan Haji Hassanal Bolkiah School here, yesterday.
"Our initiative is to expose TAP to the general public and also get them to think more about the subject of retirement," said Irwandy Hj Louis, Manager of the Corporate Communications, TAP.
The mechanics of the Worker's Trust Fund, better known to Bruneians as TAP, sees two contributions made into the fund every month. It has become a requirement in Brunei that both employee and the employer provide five per cent contribution of the total wage into the TAP fund, which is accessible by the employee after they reach the mandatory retirement age of 55.
"However it really depends on each individual's retirement needs," said Irwandy, who highlighted that whilst five per cent is a good start, some cases the TAP fund was not enough and that one of the roadshow's objectives was to team up with the local banks in the country to inform the public what their options are.
The roadshows are also another way for us to get feedback from the public, said the manager. Some 60 teachers from Yayasan Sultan Haji Hassanal Bolkiah School were present to listen in on the basics of financial planning from representatives of both TAP and Baiduri Bank.
"I think its always good to know what options are available," said one of the teachers, "not just for me but also my children."
The second presentation by Baiduri was delivered by Peng Eng Soon, Head of Wealth Management at the bank, who touched on the significance of achieving the short and long term financial goals and general tips on financial planning.
The Brunei Times