KOTA KINABALU: Almost three-quarters of Employees Provident Fund (EPF) contributors in Sabah have savings of less than RM50,000 in their EPF accounts. Sabah and Labuan EPF regional director Mohd Fadil Sarehan said this represents about 71%, or 691,322, of the 973,693 contributors in Sabah. Mohd Fadil said there is a need to raise awareness among contributors to...
PETALING JAYA: The new Employees Provident Fund (EPF) measures are expected to benefit over 2.3 million people in Malaysia including two million foreign workers, says the Employees Provident Fund (EPF). Mechanisms are still being worked out on mandatory foreign workers’ contributions to the fund as well as the intergenerational transfer of wealth as proposed in the...
PETALING JAYA: An anti-graft group says recent contributions announced for houses of worship in Sungai Bakap, the construction of a fire station, and the upgrading of a market may constitute elements of bribery and corruption. #RasuahBusters said such contributions also violated the mandate and trust of the people. "Any form of promises and gifts leading up to...
KUALA LUMPUR: Any new additional pre-retirement withdrawals, whether targeted or open, will further exacerbate the issue of insufficient retirement savings, which is currently at a very alarming level, the Finance Ministry said. The ministry said it is also not a solution to the increasing financial burden of the people. "As of Sept 30, 2023, a total of...
