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...
KUALA LUMPUR: A total of RM10.78bil has been withdrawn from the Employees Provident Fund (EPF) Account 3 (Flexible Account) by members below 55, states the Finance Ministry. The ministry said in a parliamentary written reply on Monday (Dec 2) that the sum involved 3.86 million or 29.4 per cent of EPF members below 55, as of...
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...
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: 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 The EPF said the deadline is for those who have not fully withdrawn their retirement savings.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...
KUALA LUMPUR: The government’s decision to raise the minimum wage from RM1,500 to RM1,700 was among the focus for both government and opposition MPs during the debate on the Supply Bill 2025 in the Dewan Rakyat on Wednesday (Oct 23). Most of them supported the move as it would benefit the workers, but some expressed concerns...
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...
The appointment of Datuk Mohd Izani Ghani as the new managing director of Malaysia Airports Holdings Berhad (MAHB) signals a new era of transformation. At a time when the aviation industry is navigating both unprecedented challenges and exciting opportunities, Mohd Izani has been tasked to steer MAHB to transform its operations, which includes improving customer experience and overall...
PETALING JAYA: Most Malaysians who opted in for Employees Provident Fund's (EPF) Account 3 withdrew the funds to settle debts and outstanding loans, according to a poll by The Star. The online poll, which was held in the week before the last day of the opt-in on Aug 31, saw 1,300 people responded. Around 288 people (42.11%)...
PETALING JAYA: Aug 31 is the final day for Employees Provident Fund (EPF) members to apply for a one-time transfer of funds from Account 2 (Akaun Sejahtera) to Account 3 (Akaun Fleksibel). Many members have already taken advantage of this option to enhance their cash flow, while others are planning to do so before the deadline. ALSO...
