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Epf sets new target of rm240 000 for basic savings.
Epf basic saving table 2019. Return of investment proceeds to epf members are required to return all amount including profits made. Kuala lumpur 28 november 2018. Kuala lumpur nov 28. Visit the post for more.
Kuantum baharu simpanan asas bermula januari 2019. The employees provident fund epf has announced that the basic savings at age 55 will be increased from rm228 000 to rm240 000 effective jan 1 2019. Save my name email and website in this browser for the next time i comment. According to epf the basic savings refer to the amount that is considered sufficient to support members basic retirement needs for 20 years from age 55 to 75 aligned with the malaysian life expectancy.
The amount will be set as the minimum target epf basic savings members should have upon reaching age 55 the pension fund said in a statement today. The epf mis allows epf members to withdraw a certain amount of money from account 1 and invest into epf approved unit trusts provided the basic savings in account 1 is met. The latest epf interest rate is 8 50 for the financial year 2019 20. The employees provident fund epf will be revising the quantum for basic savings from the current rm228 000 to rm240 000 effective jan 1 2019.
Kumpulan wang simpanan pekerja kwsp hari ini mengumumkan bahawa kuantum baharu simpanan asas akan dinaikkan daripada rm228 000 kepada rm240 000 bermula 1 januari 2019 jumlah ini akan ditetapkan sebagai jumlah sasaran simpanan minimum ahli perlu ada apabila mencecah umur 55 tahun. Hopefully this epf calculator excel sheet will help you understand the retirement savings product employee provident fund epf better and also act as a decision making tool to make informed investment decisions about how much you can save in epf corpus for retirement. The new quantum for the basic savings in epf account 1 will be revised from rm228 000 rm 950 per month for 20 years to rm240 000 rm1 000 per month for 20 years at member s age of 55 years old. The quantum for the basic savings will be revised from the current rm228 000 to rm240 000 the minimum target epf basic savings.
The latest epf basic savings will take effect on jan 1 2019. The amount will be set as the minimum target epf basic savings members should have upon reaching age 55. Epf announces that the quantum for the basic savings will be revised from the current rm228 000 to rm240 000 effective 1 january 2019.
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