Tag Archives: Employees Provident Fund

June 27

EPF withdrawal age stays at 55

THE Employees Provident Fund (EPF) will not be raising the eligible age for contributors  to make a full withdrawal of their savings. The Malaysian Insight reports: It said it has taken note of the World Bank’s suggestion to gradually raise the age when members can make a full withdrawal of their retirement savings from 55 […]

June 02

EPF 1Q income falls 25% on equity rout

Employees Provident Fund’s (EPF) total income fell 25% year-on-year (YoY) for the first quarter ended March 31 this year (1Q19) on the continued rout of domestic equities and challenging external picture, reports The Malaysian Reserve. Malaysia’s largest pension fund recorded RM9.66 billion in income for the quarter, significantly lower than the RM12.88 billion managed in […]

March 05

EPF should take Sarawak Report to court: Razlan

The Employees Provident Fund (EPF) should take legal action against Sarawak Report for its alleged slanderous remarks against the federal statutory body. Federal Territories Umno Youth chief Datuk Razlan Muhammad Rafii such accusations by the pro-opposition portal had tarnished EPF’s reputation and image. On Feb 28, EPF in a statement refuted a Sarawak Report’s claim […]

December 26

Procrastination behind low number of EPF contributors who register nominees

SOME Malaysians just love to procrastinate and settle things at the very last minute. This attitude is seen every year when the deadline to submit income tax returns to the Inland Revenue Board approaches. Last year, many people who were required to change their ATM cards to debit cards chose to do so at the […]

November 11

EPF confirms woman’s account secure after share scare

“EPF’s investigation found Tan’s EPF savings secured and updated to the latest contribution month and the nominations made in 2012 are still valid and in effect,” according to an EPF statement yesterday. An allegation that a Malay man from Kelantan had been registered as Tan’s EPF savings nominee is not true,” said EPF. The statement […]

February 19

EPF declares 5.7% dividend for 2016, total payout RM37.08bil

The Employees Provident Fund (EPF) has declared a 5.7 per cent dividend for 2016, with a total payout of RM37.08bil. Chairman Tan Sri Samsudin Osman said the EPF is pleased it has been able to consistently exceed its two strategic investment targets of at least 2.5 per cent nominal dividend on a yearly basis and […]

October 22

Budget 2017: EPF Introduces Facility for Members for PR1MA New End-Financing Scheme

Following the Budget 2017 announcement by Y.A.B. Prime Minister Datuk Seri Najib Razak on the PR1MA New End-Financing Scheme initiative, the Employees Provident Fund (EPF) confirms that a facility will be introduced for members who meet PR1MA’s eligibility criteria and are making EPF housing withdrawal for the first time.    Members must be aware that […]

May 26

EPF appoints MRCB as Kwasa Damansara project delivery partner

The Employees Provident Fund’s (EPF) wholly-owned unit Kwasa Land Sdn Bhd appointed Malaysian Resources Corp Bhd (MRCB) as project delivery partner (PDP) to develop the Kwasa Damansara township’s main infrastructure. Kwasa Damansara is a future township within 932ha (2,330 acres) in Sungai Buloh, Selangor. The Rubber Research Institute Malaysia was formerly located there. In a […]

May 15

Only one in five EPF contributors can afford to retire

Only 22 percent of the 6.7 million Employees Provident Fund (EPF) active contributors aged 54 years have sufficient savings of RM196,800 or more to sustain themselves during retirement. EPF Head of Strategy Management Department Balqais Yusoff said the other 78 percent of the contributors, unfortunately, did not have the basic amount for their retirement years. […]

May 03

EPF contributions rose 4.91% to RM58.98bil

The Employees Provident Fund (EPF) has reported a rise of 4.91% in annual contributions to RM58.98bil against a total annual amount withdrawn of RM44.25bil, resulting in net inflows of RM15.73bil. The EPF ended 2015 with RM44.23bil in total gross investment income with a gross return on investment of 7.48% which was 23 basis points higher […]

December 24

EPF Says Action Filed Against Perwaja Steel Over Unpaid Contributions

The Employees Provident Fund (EPF) today clarified that it had taken legal action, which includes both prosecution and civil suit, against Perwaja Steel (Kemaman) Sdn Bhd (PSSB), and personally against the company directors, for defaulting on their monthly EPF contributions amounting to RM9.17 million for the period between August 2013 and September 2014. In a […]

December 16

Defaulting employers fined more than RM200,000

A total of RM232,100 in fines had been imposed by the courts against 144 errant employers between July and September 2014, the Employees Provident Fund (EPF) said today in its third quarter 2014 (Q3 2014) report. The employers, who defaulted in remitting their employees’ monthly EPF contributions within the stipulated time, were fined under Section […]