RECENTLY, a notice circulated on WhatsApp claimed that if one of your beneficiaries in the EPF (Employees' Provident Fund) Nominees List dies, it would automatically void the whole arrangement of the list. The message implied that if you only list one nominee, and should he or she die before you, your EPF savings will be surrendered...
PETALING JAYA: Almost half of the 123 subsidiary companies under five federal agencies lost almost RM2bil in 2022, according to the Auditor-General’s Report on Federal Agencies 2022. The five agencies were Employees Provident Fund (EPF), Armed Forces Fund Board (LTAT), Federal Land Development Authority (Felda), Retirement Fund Inc (KWAP) and Lembaga Tabung Haji (LTH). These five federal...
PETALING JAYA: Many workers in both the formal and informal sectors plan to contribute more to the Employees Provident Fund (EPF) to assure an easier retirement. Fund members taking part in the voluntary contribution programme said it is a prudent and stable way to save for the future, while also providing reasonable returns and peace of...
SHAH ALAM: Most Malaysians do not have enough savings for their retirement, with only 33% of active Employee Provident Fund (EPF) members having recorded basic savings of RM240,000 as of last year, says the EPF chief executive officer. Ahmad Zulqarnain Onn said this percentage represented 2.4 million members aged between 18 and 55 in the formal...
PETALING JAYA: A PKR lawmaker has refuted the misleading viral message circulating on social media comparing the Employees Provident Fund (EPF) and Permodalan Nasional Berhad (PNB) dividend payouts. Petaling Jaya MP Lee Chean Chung explained that the EPF's investment approach involves a combination of bonds with a 2.5% guaranteed return and investments in both Malaysian and...
SHAH ALAM: The Employees Provident Fund (EPF) recorded RM66.99bil in total investment income for the financial year ended Dec 31, 2023 – which is a 29% year-on-year increase from the RM51.91bil reported in 2022. The total investment income was reported after netting off equity write-downs. Of the RM66.99bil in total investment income, RM5.72bil was generated from mark-to-market...
KUALA LUMPUR: The Employees' Provident Fund (EPF) is expected to announce the flexible account or Account 3 initiative in April, including the withdrawal mechanism and flexibility for contributors, Finance Minister II Datuk Seri Amir Hamzah Azizan said. He said Account 3 will be explained to contributors after the dividend distribution announcement this Sunday. "They (EPF) will also...
PETALING JAYA: The Employees' Provident Fund (EPF) is expected to announce the 2023 dividends on Sunday (March 3). As in previous years, dividends for the conventional and syariah savings for 2023 are expected to be announced during the retirement fund’s annual financial performance briefing, which will be on Sunday. Analysts have previously indicated that the dividends for...
PETALING JAYA: Contributors are hoping for a higher dividend payout by the Employees Provident Fund (EPF) this year to grow their retirement nest egg. Jeremy Koh, 56, who holds both the Emas and conventional savings account, is hoping for a higher dividend as it will benefit both accounts. “As a person who is above 55 yet still...
PETALING JAYA: With the Employees Provident Fund (EPF) recording a stronger performance in the first nine months of the 2023 financial year (FY23), experts are anticipating a higher dividend declaration this year. The dividend announcement is expected to be made in early March. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid expects the dividend rate...
