MAY 15 — The Malaysia Madani government needs to carefully reconsider its decision on the implementation of the EPF Account 3 also known as Akaun Fleksibel. It must take into account various factors to formulate more pragmatic policies to ensure that retirees in their senior years can enjoy quality of life with a healthy cash … Read more
KUALA LUMPUR, May 12 — The Employees Provident Fund (EPF) has updated their online platform and you can now transfer funds from Account 2 (Akaun Sejahtera) to Account 3 (Akaun Fleksibel). Account 3 is created automatically for all members below 55 years old and it provides members the flexibility to withdraw at any time. Here’s … Read more
APRIL 28 — The Employees Provident Fund’s (EPF) recent announcement on restructuring members’ accounts from two to three, namely Akaun Persaraan, Akaun Sejahtera and Akaun Fleksibel, represents a refinement to Malaysia’s retirement saving scheme. The restructuring exercise appears to take a middle approach in striking a balance between meeting the contributors’ short-term needs and long-term … Read more
KUALA LUMPUR, April 16 — The Employees’ Provident Fund (EPF) will soon reveal details for Account 3, a new flexible account which allows members to withdraw funds at any time. Ahead of the official announcement, New Straits Times (NST) reported early details for Account 3 and contributions are expected to begin as early as May … Read more
SHAH ALAM, March 3 — Malaysia’s demographic landscape is undergoing a significant transformation, with the proportion of elderly citizens expected to soar to 40 per cent by 2043, highlighting critical implications for the nation’s fiscal outlook, said Ahmad Zulqarnain Onn, chief executive officer of the Employees Provident Fund (EPF). With a projected population of 39.9 … Read more
SHAH ALAM, March 3 — The median savings of Bumiputera members aged below 55 in the Employees Provident Fund (EPF) have increased to RM8,254 in the financial year ending December 2023 (FY2023) from RM4,900 in FY2022 due to withdrawals during the Covid-19 pandemic. During the pandemic, the Bumiputera median savings dropped by 70 per cent … Read more
KUALA LUMPUR, Feb 29 ― The decline in the value of the ringgit and the amount of savings in the Employees’ Provident Fund (EPF) by retirees are expected to be the highlight of today’s question and answer session in the Dewan Rakyat. According to the Order Paper on the Parliament’s official website, the issue of … Read more
KUALA LUMPUR, Jan 25 ― Malaysia is expected to name Ahmad Zulqarnain Onn, group CEO of the country’s largest asset manager Permodalan Nasional Berhad (PNB), as the head of its biggest state pension fund, three people familiar with the matter said. The appointment will fill the role left vacant after Prime Minister Datuk Seri Anwar … Read more
KUALA LUMPUR, Dec 5 — Malaysians could see their retirement savings increase by 54 per cent when the Progressive Wage Policy kicks in next year, the Employees Provident Fund (EPF) said. Balqais Yusoff, head of EPF’s Strategic Management Department, told Sinar Harian in a report published today that its members’ savings have the potential to … Read more
KUALA LUMPUR, November 28 — Local franchise Bubble Bee clarified that Employee Provident Funds (EPF) contribution issues involving their workers, have been resolved. The company was recently called out by one of their employees on TikTok for not making EPF payments although deductions were made from their pay since earlier this year. Bubble Bee founder … Read more
