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...
PETALING JAYA: Even a small voluntary contribution into the Employees Provident Fund (EPF) can snowball over time and workers in the informal sectors should not miss out, say financial experts. The power of “compound interest”, they pointed out, would increase even with the minimum RM10 contribution to EPF. ALSO READ: EPF continues to be flexible for long-term gains When...
KUALA LUMPUR: The Employees Provident Fund (EPF) today announced the disbursement of a RM708mil Government Additional Contribution incentive to its 1.4 million members aged between 40 and under 55. The incentive was allocated to individuals with EPF savings of RM10,000 and below in their Account 1 as of Feb 24, 2023, it said in a statement. "The...
KUALA LUMPUR: The Employees Provident Fund (EPF) today announced the disbursement of a RM708mil Government Additional Contribution incentive to its 1.4 million members aged between 40 and under 55. The incentive was allocated to individuals with EPF savings of RM10,000 and below in their Account 1 as of Feb 24, 2023, it said in a statement. "The...
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...
KUALA LUMPUR: The government has agreed to study the proposal for a phased expansion of social protection coverage to the working-age population of Malaysia reaching 18 years old to ensure old age income security from 2024 onwards. Prime Minister Datuk Seri Anwar Ibrahim said that this decision was made during the 6th Meeting of the Malaysian...
PETALING JAYA: The financial wellbeing of Malaysia's ageing population has been given attention in Budget 2024. Employees Provident Fund (EPF) chief executive officer Datuk Seri Amir Hamzah Azizan said the Budget announced by Prime Minister Datuk Seri Anwar Ibrahim on Friday (Oct 13) addressed some concerns EPF raised on the long-term financial wellbeing of Malaysians. "The Budget...
PETALING JAYA: Are there any 100-year-old contributors of the Employees Provident Fund (EPF) out there? The answer is yes! The EPF recently posted a general notice including in The Star classified ads seeking to contact people who are 100 years old and above who have not claimed their EPF savings. The fund said members and their beneficiaries...
