The Skim Saraan Bercagar (SSB) is a scheme launched by the Malaysian National Mortgage Corporation (Cagamas) to enable homeowners to receive a monthly living allowance after retirement.
In simple terms, it is a home ownership scheme that allows a retiree with a home to use it as collateral and receive a monthly payment until the applicant’s death. The applicant’s descendants will need to pay the loan to the relevant authorities before they can claim back the house.
Interested parties can visit the Employees Provident Fund Board (KWSP) to enquire and apply. Applications are currently only open to people in the Klang Valley area. For more information, please visit https://www.ssb.cagamas.com.my/.
Application requirements
1. A Malaysian citizen aged 55 years or above.
2. Applicable to individual or joint names of houses.
3. Only applicable to the existing house in which you are residing.
4. Have paid off the mortgage.
