Govt securities to remain robust despite restructuring of EPF accounts
KUALA LUMPUR: CIMB Investment Bank Bhd (CIMB IB) expects the impact of the Employee Provident Fund’s (EPF) introduction of a third account, which allows for flexible withdrawals, on Malaysian Government Securities (MGS) and Government Investment Issues (GII) demand to be mitigated by strong net contributions, ample onshore liquidity, and government-linked investment company (GLIC) and government-linked […]
Over 14,000 takaful plans purchased from PruBSN using EPF Account 2
KUALA LUMPUR: More than 14,000 takaful protection plans have been purchased from Prudential BSN Takaful Bhd (PruBSN) by Employees Provident Fund (EPF) members under the i-Lindung initiative. PruBSN chief executive officer Wan Saifulrizal Wan Ismail said the second iteration of the EPF i-Lindung initiative will assist more people in protecting themselves and their families against […]
No pensions for new state civil servants
KUCHING: All new hires for the state civil service will be recruited under the Contribution-Based-Position (JBC) scheme from this year. This means they will be contributing to the Employees Provident Fund (EPF) retirement scheme and will not receive monthly pension from the government after retiring. State Secretary Datuk Amar Mohamad Abu Bakar Marzuki said those […]
Prudential Malaysia partners with EPF
KUALA LUMPUR: Prudential Malaysia has collaborated with Employees Provident Fund (EPF) for the second iteration of the EPF i-Lindung initiative, to offer Malaysians with both conventional and takaful protection plans which are easy to enrol, accessible and provide good protection value. Prudential Malaysia, in a statement, said the cost-effective protection plans, namely PRUGuard Family and […]
Be rational on pension decision, public told
SIBU: The public should be rational on the federal government’s decision to abolish the civil service pension system, replacing it with the Employees Provident Fund (EPF), viewing it from a long-term perspective. Federal Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing urged leaders from both the ruling and opposition parties to not exploit […]
EPF urges members aged 100 and above to claim their savings
KUCHING: The Employees Provident Fund (EPF) is currently reaching out to a select group of EPF members aged 100 years and above who have not claimed their EPF savings. As part of its ongoing efforts to assist members, EPF urged the individuals or their beneficiaries to check for any remaining unclaimed balances. “Members or their […]
EPF, Perkeso contributions for athletes under study: Hannah
KUALA LUMPUR: The National Sports Council (NSC) is examining a possible first-time implementation of contributions such as the Employees Provident Fund (EPF) and the Social Security Organisation (Perkeso) for athletes under the podium programme starting January next year. Youth and Sports Minister Hannah Yeoh said this was decided by the NSC Board of Management recently […]
EPF Sarawak focuses on ensuring sufficient basic savings for retirement
KUCHING: The Sarawak Employees Provident Fund (EPF) is focusing on ensuring that the people in the state have sufficient basic savings as their guarantee ahead of retirement. EPF Sarawak regional director Aminuddin Abdul Aziz said out of 816,328 active EPF members in the state, only 111,782 of them have sufficient basic savings. “To us, it […]
EPF working towards ensuring retirement income adequacy
KUALA LUMPUR: The Employees Provident Fund (EPF) has been working towards establishing a more pension-like approach towards providing its members with a more stable income in their post-retirement years. The EPF said this could be seen from its current encouragement to members to voluntarily shift to regular monthly payout rather than lump-sum withdrawals. “In 2022, more than […]
Malaysia needs a more inclusive social protection system
KUALA LUMPUL: A more inclusive social protection system is needed in Malaysia as it is currently narrow and inadequate, with only 9.1 per cent of intended beneficiaries being covered versus an average of 55.1 per cent for Asia and 12.8 per cent for the world. Employees Provident Fund of Malaysia (EPF) chief executive officer Datuk Seri […]
