What the ???
Many rumours regarding our retirement fund EPF has been circulating in social media all this while (as long as I know there is EPF in this world). Lol. ð›± ð›± ð›± And, one of the hot topic is whether EPF will continue to payout dividends to members aged 75 and above?
And, being a financial-focused blog, for sure we have to write about this matter. Please read on...
By the way, why 75 and not 65 or 85 or 95?
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The Employees Provident Fund (EPF) wishes to clarify that an old statement regarding the maximum age of 75 years for EPF dividend payment, which is currently circulating via WhatsApp and other online platforms, is outdated and no longer applicable.
As announced in an EPF media statement dated 3 November 2016, effective 1 January 2017, members will continue to earn dividends for the remaining portion of their EPF savings up to age 100.
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This measure was introduced following the amendment to the EPF Act 1991 to ensure that members who choose to maintain a portion of their savings with the EPF after retirement will continue to benefit from the compounding effect of annual dividends until their EPF savings have been fully withdrawn.
The EPF will inform members prior to transferring any unclaimed savings when the member reaches age 100 . Any claim after the transfer can be made through the Registrar of Unclaimed Monies.
We urge members to be cautious of misleading or unsubstantiated information received through social media platforms and refrain from circulating them. Members are advised to always verify the source and date of the information obtained.
To ensure accuracy of information, we encourage members to refer to the EPF official communication chanels, visit the EPF’s website at www.kwsp.gov.my, or call the EPF Contact Management Centre at 03-8922 6000.
Issued by the EPF Media Desk
Corporate Affairs Department
20 April 2021
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