About Us
GDC Staff Retirement Benefits scheme was established to provide retirement benefits for eligible employees/members and their dependants, both during a member’s career and in retirement. The Scheme became officially operational on 1st July 2010 following the Sponsor’s decision to set up a retirement benefits scheme for its employees and the registration of the same by the Retirement Benefits Authority (RBA).
The Scheme is set up and run as a trust. A trust is a fiduciary relationship in which one party, known as the Sponsor gives another party, the Trustees the right to hold title to property or assets for the benefits of a third party, the beneficiary (members). The assets and contributions which are paid by the members and the Sponsor into the Scheme are invested and held in separate from those of the Sponsor. The said assets and contributions as held are then used to provide benefits as described in this Member Booklet.
- A permanent employee of Geothermal Development Company or any other employee of the Sponsor permitted by the Sponsor and Trustees is eligible to join the Scheme.
- The employee will be required to complete an Application Form and a Nomination of Beneficiary Form (NOB), copies of which can be obtained from the Human Resources Office.
- For the purpose of membership in the Scheme, if one leaves and then re-joins Geothermal Development Company, they will be treated as a new member after a one-year lapse during which they were not contributing.
Looking ahead, our goal is to expand the platform’s reach, functionality, and relevance. By incorporating emerging technologies, we aim to provide even more valuable, tailored content that supports the evolving needs of the industry.
