KUALA LUMPUR – The Employees Provident Fund (EPF) will introduce Akaun Emas for members who are still working after the age of 55, effective Jan 1, 2017.
Chief Executive Officer Datuk Shahril Ridza Ridzuan said EPF’s age of full withdrawal at 55 years, however, remains unaffected.
He said the Akaun Emas is part of the EPF schemes’ enhancement initiative, whereby new contributions after 55 years of age will be automatically parked under this second retirement fund.
“It can only be withdrawn when members reach age 60, to ensure they have sufficient retirement savings upon reaching that age,” Shahril Ridza told a media briefing on the enhancement of the EPF Schemes and Policies here today.
At the same time, he said, members who have reached 55 years old have an option to either make full withdrawals or leave their savings untouched while their new contributions go to the Akaun Emas.
Shahril Ridza said members would enjoy the same dividends for both of their accounts. – BERNAMA