KUALA LUMPUR: The practice of lump sum retirement withdrawals may jeopardise long-term financial security and increase the risk of retirees outliving their savings, said Employees Provident Fund (EPF) chief executive officer Ahmad Zulqarnain Onn. He said that only a small proportion of EPF members currently meet the basic savings threshold, while over 58 per cent of...
PETALING JAYA: The Employees Provident Fund (EPF) has emerged as a substantial shareholder in 99 Speed Mart Retail Holdings Bhd after acquiring a 0.07% stake in the company. In an amended filing with Bursa Malaysia, the EPF clarified that it had acquired six million shares in the minimart chain operator on June 4 and not 421.79...
KUALA LUMPUR: The Employees Provident Fund (EPF) recorded an investment income of RM18.31bil in the first quarter ended March 31, 2025 (1Q25), a weaker performance from a year ago as equities contribution fell amid softer global equity markets. The pension fund said its quarterly income - which was 13% lower than RM20.99bil in the corresponding period...
WHILE grateful at having the Employees Provident Fund’s (EPF) Flexible Account, members say they rather keep the money than use it. Electrical store manager Jenny Chin said although only 10% of the total contributions were allocated to Account 3, it will definitely grow in the future. “The most important thing for private sector workers like us is...
KUALA LUMPUR: Close to 5,000 transactions were made at the pioneer Sentuhan Madani kiosks in January, says Pantau Madani unit director-general Mohd Khalid Mohamed Latiff. Mohd Khalid said the kiosks at the Alamanda shopping mall in Putrajaya recorded 4,689 transactions. Of the number, the Employees Provident Fund (EPF) service at the kiosk recorded 2,981 transactions, making up...
PETALING JAYA: Datuk Seri Dr Wee Ka Siong has fact-checked claims made by Kampar MP Chong Zhemin on the Employees Provident Fund's (EPF) sale of Malaysia Airport Holdings Bhd (MAHB) shares. "There are a lot of errors stated by the Kampar MP in the video published by DAP. "YB Chong, you still don't understand and have swayed...
KUALA LUMPUR: Mandatory Employee Provident Fund (EPF) contributions for foreign workers is expected to come into effect in the fourth quarter of 2025, says Finance Minister II Datuk Seri Amir Hamzah Azizan. This comes after the Employees Provident Fund (Amendment) Bill 2025, which mandates foreign workers and their employers to contribute 2% of monthly wages to...
PETALING JAYA: Datuk Seri Dr Wee Ka Siong has questioned the payout-to-earnings ratio of the Employees' Provident Fund's (EPF) dividend of 6.3% for 2024, with the total payout for conventional and syariah savings amounting to RM73.24bil. "The EPF dividend payout for 2024 accounts for 98.4% of the total earnings from EPF's investment profits throughout 2024, compared...
PETALING JAYA: Datuk Seri Dr Wee Ka Siong wants Pakatan Youth information chief Ammar Atan, whom he claims made defamatory remarks against him, to withdraw his statement within 24 hours. "This is what I said in front of hundreds of media friends at the recent MCA media night on Feb 26," he said on Facebook on...
KUALA LUMPUR: The Employees Provident Fund (EPF) did not incur any losses in its sale and repurchase of Malaysia Airports Holding Bhd (MAHB) shares, says Datuk Seri Amir Hamzah Azizan. “I want to take this opportunity to clarify to Kampar MP (Chong Zhemin) that there are no losses recorded by the EPF regarding the MAHB matter. “With...
