CUEPACS lauds special EPF withdrawal of RM10k
KUCHING: The Congress of Unions of Employees in the Public and Civil Services (CUEPACS) Sarawak applauded Prime Minister Datuk Seri Ismail Sabri Yaakob’s announcement that RM10,000 from the Employees Provident Fund (EPF) could be withdrawn for eligible contributors. Its chairman, Omar Bahrein Unin, said his congress was aware that the majority of the contributors came […]
Don’t allow ‘premature’ withdrawal of EPF savings
KUCHING: The government should stop contributors from withdrawing savings in their Employees Provident Fund (EPF), said Universiti Malaysia Sarawak (UNIMAS) honorary professor Datuk Dr Madeline Berma. She was commenting on the announcement by Prime Minister Datuk Seri Ismail Sabri Yaakob today who agreed to allow EPF contributors to make a special withdrawal of RM10,000. According […]
SBF urges members to put spare money into EPF
KUCHING: Sarawak Business Federation (SBF) is urging its members to seriously consider saving in the EPF Voluntary Contribution scheme with the Employees Provident Fund (EPF) posting a stronger performance now. According to SBF Deputy President and EPF Board Member Datuk Philip Ting, by law EPF is required to provide a provide a guaranteed dividend of […]
Tabung Haji to declare dividend of around three per cent
BY SAKINI MOHD SAID Following Amanah Saham Bumiputera’s (ASB) announcement of its dividend payout for the financial year ending Dec 31, 2021, many people have been eagerly awaiting Lembaga Tabung Haji’s (TH) profit distribution rate which is expected to be announced anytime during the first quarter of this year. The question foremost on the minds […]
Additional withdrawals of EPF can make members poor
KOTA BHARU: When it comes to the Employees Provident Fund (EPF), the pertinent question that is hotly debated now is whether or not to allow additional withdrawals. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said additional withdrawals could result in the members being poor when they retire. He explained that this was due […]
i-Citra withdrawal not best solution for contributors
BY SITI ALYA NADIAH ISMAIL KUALA LUMPUR: The RM10,000 Employees Provident Fund (EPF) i-Citra withdrawal allowed is not the best solution for contributors adversely affected by the recent floods, says a financial expert. Movement for Monetary Justice Malaysia (MMJ) vice-chairman, Associate Prof Dr Ahmed Razman Abdul Latiff said this withdrawal would only reduce their EPF savings for old […]
New EPF ruling to increase savings
KUALA LUMPUR: All new Employees Provident Fund (EPF) contributions of members who had made withdrawals will be credited into Account 1 until the total amount withdrawn had been replenished, said Deputy Finance Minister Mohd Shahar Abdullah. Only after that will 70 percent of the contributions be credited to Account 1 and 30 percent to Account 2, […]
Self-employed urged to contribute to Socso
MIRI: Self-employed individuals should contribute to the Self-Employment Social Security Scheme (SKSPS), under the Social Security Organisation (Socso) to provide themselves some financial protection. Transport Minister Datuk Lee Kim Shin, who gave this advice, noted that the scheme had been extended to 19 informal sectors including small traders, farmers, fishermen, and art activists in January […]
EPF launches initiatives to ease employers’ financial constraints
KUALA LUMPUR: The Employees Provident Fund (EPF) has launched two new initiatives to ease the employers’ cash flow management during the pandemic and simultaneously allow them to undertake their statutory obligation. The initiatives are an exemption on late payment charges and Employer Pay for Reduction initiative (e-PaR), the national retirement fund said in a statement […]
EPF signs MOU to encourage grab drivers, delivery-partners signing up for i-Saraan, self-contribution
KUALA LUMPUR: The Employees Provident Fund (EPF) has signed a memorandum of understanding (MOU) with Grab Malaysia (Grab) to encourage Grab’s community of driver and delivery-partners to save for their retirement via the EPF’s i-Saraan programme for those below the age of 55 or self-contribution programme for those aged 55 and above. The MOU is […]