EPF must explain why its “sell low, buy high” of MAHB shares were so close together in time, resulting in losses, says Ayer Itam MP Dr Wee

KUALA LUMPUR: The Employees' Provident Fund (EPF) needs to explain its decision-making process to buy Malaysia Airports Bhd (MAHB) shares at RM11 each in 2024, a mere year after selling it for RM6 in 2023, said Datuk Seri Dr Wee Ka Siong. "It is said the buying back of shares at RM11 was for privatisation purposes. "Who...

Dr Wee questions EPF’s handling of MAHB shares

PETALING JAYA: An investigation must be conducted into the Employees Provident Fund (EPF) selling its Malaysia Airport Holdings Berhad (MAHB) shares at a lower price and repurchasing them at a premium in a short period, says Datuk Seri Dr Wee Ka Siong. The MCA president said records show that EPF's equity holdings in MAHB in November...

Greater flexibility for Simpanan Shariah holders from April 1, says EPF

KUALA LUMPUR: There will be faster access and more flexibility for the Employees Provident Fund's (EPF) Simpanan Shariah account holders from April 1. EPF said in a statement on Friday (Jan 10) that the enhancements include monthly activation for its members who opt in for Simpanan Shariah, instead of yearly as before. "These enhancements enable immediate registration...

PM receives courtesy call from EPF’s top management

KUALA LUMPUR: Employees Provident Fund (EPF) chairman Tan Sri Mohd Zuki Ali and a delegation comprising the fund's top management paid a courtesy call on Prime Minister Datuk Seri Anwar Ibrahim on Monday (Jan 6). In a Facebook post, Anwar, who is also Finance Minister, said the meeting was to discuss EPF’s role as a government-linked...

QuickCheck: Is EPF allowing RM10,000 withdrawals from Dec 17?

SINCE May 12, 2024, Employees Provident Fund (EPF) contributors have been able to use the new Account 3 to withdraw money for personal use. However, a recent viral message claims that EPF has allowed another special withdrawal of RM10,000 from Dec 17. Is it true that EPF contributors can make a special withdrawal of RM10,000 from their...

QuickCheck: Is the EPF only allowing monthly withdrawals for those aged above 60?

CHAT groups on messaging apps are a great place to share information – but unfortunately this applies to misinformation as well. Recently, a viral message being spread claims that those who are aged 60 and above are only allowed to make monthly withdrawals of their Employees Provident Fund (EPF) savings. Is there any truth to this viral...

872,000 EPF members make voluntary contributions as of Aug 2024, says Finance Ministry

KUALA LUMPUR: A total of 872,000 or 10.2% of active Employees Provident Fund (EPF) members have made voluntary contributions amounting to RM9.39bil as of Aug 31 this year. Deputy Finance Minister Lim Hui Ying said members could contribute voluntarily to increase their savings, subject to a maximum amount of RM100,000 per year, effective June 1, 2023. "These...

71% of EPF contributors in Sabah have less than RM50,000 in account

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...

Centenarians reminded to claim EPF savings by March

PETALING JAYA: Employees Provident Fund (EPF) members aged 100 years and above have been given until March 31 to claim their savings. The EPF said the deadline is for those who have not fully withdrawn their retirement savings. "These members or their beneficiaries must submit a claim for the monies by the March deadline," EPF said in...