EPF members aged 75 to 100 to continue receiving dividends
Bernama
April 23, 2015 08:40 MYT
April 23, 2015 08:40 MYT
EPF: Members who maintained their savings will continue to receive dividends until the age of 100 and they can withdraw their savings at any time.
The Employees Provident Fund (EPF) has proposed to continue paying dividends to members aged 75 to 100 on their unwithdrawn savings with the fund.
According to a statement issued by the retirement fund Wednesday, members who maintained their savings will continue to receive dividends until the age of 100 and they can withdraw their savings at any time.
"However, unclaimed savings of members after 100 years will be transferred to the Registrar of Unclaimed Monies," the statement said.
The statement said EPF stressed that the proposal was not related to selection of aligning full withdrawal age with the minimum retirement age of 60 years.
The proposal to align the full withdrawal age was categorised under two options, namely to move the full withdrawal age from 55 to 60 years in stages over 15 years.
The second option is to maintain the full withdrawal age at 55 years for existing savings and full withdrawal at 60 years for those who continue to work and contribute after age 55.