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Min investment amount of rm1 000.
Epf basic saving 2017. The latest epf basic savings will take effect on jan 1 2019. The last revision took effect in 2017. Top recruiter contest 2017 dua kali champion top recruiter 2016 ifp certification like facebook page. Effective jan 1 2017 the eligible amount members will be allowed to invest under the epf mis has been increased to up to 30 in excess of their basic savings from account 1 from the current 20.
Funds returned automatically into your epf account 1 if sold. Like facebook page add friend follow me on. Here s an example of how you may be affected by the increased in basic savings. The employees provident fund epf has announced that the quantum for the basic savings will be revised from rm196 800 to rm228 000 effective jan 1 2017.
Basic saving rm27 000 epf acc1 amount 100k eligible amount rm100 000 rm27 000 x 20 rm14 600 year 2017 age 30. New basic savings quantum begins january 2017. Account 1 total basic savings 30 age. Effective jan 1 2017.
Kuala lumpur 30 september 2016. Effective january 1 next year members will see an increase in the eligible amount allowed to invest under the epf mis from 20 to 30 in excess of their basic savings from account 1. Increased to max 30 of amount in excess of basic savings. Rm100 000 rm50 000 30 rm15 000.
Year 2016 age 30. The employees provident fund epf today announces that the quantum for the basic savings will be revised from rm196 800 to rm228 000 effective 1 january 2017. Basic saving rm29 000 epf acc1 amount 100k. For the 2016 2017 list of epf approved funds go here.
Epf head of strategy management department balqais yusoff said the epf basic savings quantum is revised periodically according to the minimum pension for public sector employees or every three years whichever earlier with the last revision having taken effect in 2017 with the new basic savings in place members will now accordingly be required to have higher savings in their epf account in order to be eligible to participate in the epf members investment scheme. The amount will be set as the minimum target epf savings members should have when they reach age 55. The quantum for the basic savings will be revised from the current rm228 000 to rm240 000 the.
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