EPF

Malaysia Proposes Mandatory EPF Contributions for Foreign Workers to Boost Wage Equity The Malaysian government has proposed mandatory contributions to the Employees Provident Fund (EPF) for foreign workers in an effort to address wage equity and ensure local workers are not disadvantaged. Finance Minister II, Amir Hamzah Azizan, announced this initiative at the ESG and Sustainability Conference 2024,...

EPF’s Investment Income Surges 20% in First Nine Months of 2024, Driven by Equity Gains and Economic Growth Malaysia’s Employees Provident Fund (EPF) reported a robust investment income increase in Q3 2024, reaching RM19.67 billion, up from RM14.67 billion in Q3 2023. This brought EPF’s total investment income for January-September 2024 to RM57.57 billion, marking a 20% increase compared to RM47.86...

Financial Awareness Vital as Malaysians Face Retirement Challenges With life expectancy in Malaysia now averaging 76.6 years, coupled with inflation and rising living costs, it is more important than ever for Malaysians to be financially prepared early on. According to Yew Yee Tee, Executive Director and General Counsel of the Securities Commission Malaysia (SC), one of the most significant challenges...

Malaysians Withdraw RM7.81 Billion from EPF After Pension Fund Restructuring Malaysians have withdrawn a significant RM7.81 billion (US$1.66 billion) from their retirement savings following the restructuring of the country’s national pension fund, the Employees Provident Fund (EPF), in May. This figure, recorded as of June 24, marks an increase from RM6.98 billion withdrawn as of June 10. The EPF...

Enhancing Financial Security: The Strategic Restructuring of Malaysia's EPF Accounts In a significant move to refine the landscape of retirement savings, the Employees Provident Fund (EPF) of Malaysia has announced a transformative restructuring of its members’ accounts. Now segmented into three distinct entities—Akaun Persaraan, Akaun Sejahtera, and Akaun Fleksibel—this strategic overhaul is set to...

Imagine a future where your dream of owning a home in the bustling city of Kuala Lumpur is not just a distant dream but an achievable reality. Thanks to a pivotal restructuring by the Employees Provident Fund (EPF), this vision is closer than ever for many Malaysians. The introduction of a new, flexible account structure is set to revolutionize how contributors can manage their finances, potentially easing...

In a significant overhaul aimed at bolstering financial security for its members, the Employees Provident Fund (EPF) of Malaysia has announced a restructuring of its account system. Starting May 11, all EPF members under the age of 55 will transition from having two accounts to three, each designed to serve distinct financial needs more effectively. New Account Structures for Enhanced Financial...

In a significant development that could reshape financial planning for countless Malaysians, the Employees' Provident Fund (EPF) is undergoing a major restructuring. This includes a rebranding of EPF Account 1 to Account Persaraan (Retirement Account), Account 2 to Account Sejahtera, and most intriguingly, the creation of the new Account 3, also known as the Flexible Account. Here's what you need to know...

The Employees Provident Fund (EPF) is set to yield a profit of RM46 million from the disposal of six retail properties located in Klang Valley and Johor. The properties being sold include the Giant Bandar Kinrara, Giant Putra Heights, Giant USJ, Giant Klang, Giant Ulu Klang buildings, along with the Giant Plentong building in Johor, amounting to a total valuation of RM520 million. Deputy Finance Minister...