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No Foul Play In EPF Building Blaze – Noh

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PUTRAJAYA – The fire which broke out at the Employees Provident Fund (EPF) building in Jalan Gasing, Petaling Jaya was an accidental fire and there was no foul play or sabotage in the incident, said Urban Well-being, Housing and Local Government Minister Tan Sri Noh Omar. He said the fire occurred during the External Insulation…

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EPF Office In PJ Temporarily Closed

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PETALING JAYA – Operations at the Employees Provident Fund (EPF) office here has been temporarily suspended until the Fire Department completes its investigation following a fire incident which occurred earlier today. EPF deputy chief executive officer (operations) Datuk Mohd Naim Daruwish said contributors could still obtain similar services at any other EPF branches nearby. “For…

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Report On EPF Building Fire Ready In A Week

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PETALING JAYA – The Fire and Rescue Department is expected to have a full report ready in a week on the fire at the Employees Provident Fund building in Jalan Gasing here. Petaling Jaya Fire and Rescue Station chief Mohd Hafiz Mat Dali said that period of time was necessary to identify the cause of…

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Fire Damage Restricted To Exterior Of Building, Says EPF

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KUALA LUMPUR – The Employees Provident Fund (EPF) has confirmed that the damaged caused by the fire at its Petaling Jaya branch today was restricted mainly to the exterior of the building and some cars parked alongside it. In a statement today, the EPF said there were no casualties and its systems were not affected…

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EPF Declares Dividend For 2017

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KUALA LUMPUR – The Employees Provident Fund (EPF) has declared a dividend rate of 6.90 per cent for conventional accounts for 2017, with a payout amounting to RM44.15 billion and 6.40 per cent for Simpanan Shariah for 2017, with payout amounting to RM3.98 billion. In a statement today, EPF said, the payout for 2017 amounted…

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EPF Applies For Sovereign Status In The US

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KUALA LUMPUR – The Employees Provident Fund (EPF) has sent an application for a sovereign status in the United States (U.S) that will enable it to penetrate more investment opportunity in the country, said Chief Executive Officer, Datuk Shahril Ridza Ridzuan. He said that discussion on the matter had been going for a while and…

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EPF Contributors Well Aware Of Nominaton Procedure

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SIBU – Borhaniza Ali Basah, 29, regards his contribution to the Employees Provident Fund (EPF) as very important because it ensures that there will be sufficient savings to support him and his family in their old age. Borhaniza, who married Nurzilla Mohamad, 29, on Nov 26 said part of the savings could also be used…

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EPF Among The Most Efficient Retirement Plan

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KOTA BHARU – Savings via contribution to the Employees Provident Fund (EPF) is an efficient retirement plan for retirees so that they do not face financial problem in their twilight years. EPF contributor Wan Rosmawati Mohd Zain, 47, said without a strong discipline, one might not be able to save money consistently. “With the EPF…

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EPF Contribution To Revert To 11 Pct In January 2018

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KUALA LUMPUR – The statutory Employees Provident Fund (EPF) contribution rate by employees will revert to the original 11 per cent for members aged below 60 and 5.5 per cent for those 60 and above, effective the January 2018 salary for February 2018 contribution. In a statement today, the EPF said employers should ensure the…

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EPF Reclassifies Data Of Members, Employers

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KUALA LUMPUR – The Employees Provident Fund (EPF) is reclassifying the data of employees and employers starting with the third quarter of 2017 (Q32017) operations results to distinguish between accounts with savings and those with zero savings (dormant accounts). Chief Executive Officer Datuk Shahril Ridza Ridzuan said the data on employers was reclassified between those…

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Lack Of Awareness Among EPF Contributors Exposing Them To Fraud

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  ALOR SETAR – A lack of awareness among Employees Provident Fund (EPF) contributors in using its services is the main reason they are deceived by syndicates or fraudulent agents, resulting in losses of thousands of ringgit. Consumers Association of Kedah (CAKE) secretary Mohamad Yusrizal Yusoff said the association had received more than 40 complaints…

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PLUS Malaysia Bhd Takeover: Is Maju Holdings Too Ambitious?

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I read with intrigue on September 12 about the offer made by Maju Holdings Bhd to take over PLUS Malaysia from UEM Group and the Employees Provident Fund (EPF). According to media reports, Maju Holdings Bhd’s big boss Tan Sri Abu Sahid Mohamed was quoted as saying “I’m very, very confident of pulling it off.…

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Dream Home Through EPF’s E-Pengeluaran Facility

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KUALA TERENGGANU – The services provided by the Employees Provident Fund (EPF) for its contributors have evolved to suit current changes and expectations, among which is the e-Pengeluaran facility. “For me saving in EPF is not just for financial security in old age. When I am ready to buy a house, EPF will help facilitate…

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EPF Raise Stake In AWC

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KUALA LUMPUR- THE Employees Provident Fund’s (EPF) shareholding in AWC Bhd has breached five per cent. In a filing to Bursa Malaysia, AWC said EPF has bought additional 200,000 shares to increase its stake in AWC to 5.032 per cent. In total, EPF would have 13.28 million shares in AWC. AWC’s shares closed flat today…

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EPF Ruling To Help Settle Study Loans

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PETALING JAYA – Employees Provident Fund (EPF) contributors will be able to settle outstanding study loans from July 21 with their Account II under the Education Withdrawal Facility, regardless of the effective date of their education loan agreements. EPF deputy CEO (operations) Datuk Mohd Naim Daruwish said they arrived at the decision after taking members’…

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EPF Relaxes Acc 2 Withdrawal Terms For Education Loan Repayment

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KUALA LUMPUR – Effective July 21, more than 70,000 Employees Provident Fund (EPF) contributors can use their savings from Account 2 to settle the balance of their education loans, irrespective of their loan agreement dates. EPF deputy chief executive officer (Operations) Datuk Mohd Naim Daruwish said the enhancement to the Education Withdrawal Scheme would replace the…

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Viral Info On EPF Nomination Is Not True

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KUALA LUMPUR- The Employees Provident Fund (EPF) today refuted information which has been circulated through the Whatsapp application that EPF savings belonging to members with beneficiaries below the age of 18 upon their death would automatically be channelled to Amanah Raya berhad. In a statement issued by its Corporate Affairs Department, EPF said the information…

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EPF Members Do Not Need A Witness When Naming Beneficiaries

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KUALA LUMPUR: Starting next year, the Employees Provident Fund (EPF) will allow members to nominate beneficiaries without the need for a witness. This is to encourage the 10.6 million members who have yet to name their nominees to do so. Previously, employees could choose to have a witness present when making their nominations at EPF…

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EPF: Some Retirees Spend All Withdrawals In 30 Days

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BANGI: The Employees Provident Fund (EPF) is concerned with the spending habits of those who run out of savings too soon after retiring. Kuala Lumpur EPF branch retirement advisory service (RAS) officer Nornisah Mohd Yusof said many subscribers ran out of their EPF savings within three or five years after retiring although the life span…

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Malaysians Working Abroad Eligible To Contribute To EPF

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BANGI: Malaysians working abroad are eligible to make contributions to the Employees Provident Fund (EPF) via the 1Malaysia Retirement Savings Scheme (SP1M). Johor EPF branch Retirement Advisory Service (RAS) officer, Faizal Abu Al-Ashari said those below 55 years-old can register as EPF members to make savings until they reach retirement age. “This also refutes the…

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RM2,500 Incentive For Seniors Spread Via Whatsapp A Lie

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KUALA LUMPUR – The Employees Provident Fund (EPF) today dismissed as false, the claim spread via WhatsApp that the government has allocated an incentive of RM2,500 for senior citizens and that they should withdraw the amount from their EPF account before Dec 31, 2016. It said information on the purported incentive for those contributors aged…

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Dec 23 Last Date To Convert To EPF Shariah Scheme

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KUALA LUMPUR – Over 300,000 members have opted to switch to the Employee Provident Fund’s (EPF) new shariah-compliant savings scheme, Simpanan Shariah, since it was introduced to the public on Aug 8. According to EPF, Simpanan Shariah will go into implementation on Jan 1, 2017. “Registration to switch over to Simpanan Shariah is still open…

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Retirees Should Set Up Health Savings Accounts

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SEREMBAN – The biggest concern among the society particularly future retirees, in addition to whether they would have enough savings to sustain until their old age, is the health issue which can be costly and exceed their savings in the Employees Provident Fund (EPF). As such, the future retirees especially those without insurance policies should…

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Interior Community Need EPF Guidance On Saving

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KOTA KINABALU – Residents in the interior of Sabah need to be guided on the benefits of contributing to the Employees Provident Fund (EPF). The interior community comprises mainly of self employed farmers who only earn a small income, said Sabah Consumer Rights and Social Activist Datuk Patrick Sindu. “This is because the income they…

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EPF Fund Comes Handy In Times Of Need

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KUALA TERENGGANU – Savings through the Employees Provident Fund (EPF) have brought relief to many people, especially during difficult times. This happens to Afandi Mahadi, 49, who has no insurance coverage or savings when he suffered a stroke. “At that time, I felt the world collapsed and everything was dark, I was not able to…

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Be Alert Of Scammers, Invest Wisely, EPF Members Told

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PETALING JAYA – Professionals in the prime of their careers, educated youngsters and those nearing retirement, are being targeted by get-rich-quick scammers. Securities Commission (SC) deputy general manager Khairul Ridzwan Abdul Kudus (pix) said successful men in their 40s are vulnerable because they have the money. Youngsters, especially university students and fresh graduates, are recruited…

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EPF Launches New Account To Ease Contributors’ Retirement Woes

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KUALA LUMPUR: The Employees Provident Fund (EPF) will introduce a new Akaun Emas for members working beyond the age of 55. All new contributions received after 55 will automatically be parked under Akaun Emas (Gold Account), which can only be withdrawn when they reach the age of 60. This is to ensure members will have…

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EPF To Introduce Akaun Emas For Age 60 Withdrawals

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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…

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EPF Simpanan Shariah Hits RM50.25 Bln As Of End-October

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KUALA LUMPUR – The Employees Provident Fund’s (EPF) Simpanan Shariah has registered a take-up of 50.25 per cent as of end-October, amounting to RM50.25 billion of the initial allocation of RM100 billion for the scheme. To date, the scheme, which was opened for registration on Aug 8 this year, had recorded 503,734 registrations with an…

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EPF Defends Duke Highway Buy

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Fund says valuation derived from extension of toll concession and its second phase PETALING JAYA: The Employees Provident Fund (EPF) has defended its purchase of the concessionaire for the Duta-Ulu Klang Expressway (Duke), citing several key reasons to justify the high valuations of the toll operator. The proposed RM1.13bil purchase of a 40% stake in…

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