Sportcheck: Carlsberg boost for athletes

OCM president Tunku Imran Tuanku Ja’afar (left) and Carlsberg Malaysia CEO Datuk Chin Voon Loong at the Athletes Retirment Scheme signing ceremony at Wisma OCM yesterday. — Pic: YUSNI ARIFFIN

NATIONAL athletes who win honours at major multi-sports Games will continue enjoying the benefits under the Olympic Council of Malaysia-Carlsberg Athletes Retirement Scheme until 2012.

Sponsors Carlsberg Malaysia, who joined forces with OCM in 1994, started the scheme in 1998 after the successful Kuala Lumpur Commonwealth Games and 69 national athletes have so far received rewards in the form of life insurance policies based on their success in the various Games.

So far, the insurance policies have a total value of RM2.01 million.

Under the scheme, an Olympic gold medallist will receive a life policy worth RM160,000, silver worth RM80,000 and bronze worth RM40,000.

An Asian or Commonwealth Games gold will fetch an athlete a RM50,000 policy for the first individual gold and the amount will be accumulated with subsequent successes while a doubles gold is worth RM25,000 each.
Among the biggest earners under the scheme are three-time world champion Nicol David for winning Asian Games gold in 1998 and 2006 as well as winning her first world title in 2005 for an accumulated value of RM150,000.

Shuttler Lee Chong Wei is not too far behind as his gold medal in the 2006 Commonwealth Games and silver in the 2008 Beijing Olympics has earned him a RM130,000 policy.

OCM president Tunku Imran Tuanku Jaa'far said the scheme will give national athletes some form of savings and protection after the their retirement.

"The partnership between OCM and Carlsberg is unique as their support is entirely for the retirement benefit scheme and 69 athletes have already benefited," said Tunku Imran at Wisma OCM yesterday.

The annual premium is paid into the scheme for the first 14 years after which the athletes can surrender the policies for cash, or continue without premium payment thereafter with a minimum death benefit or continue paying the premium privately.

NST