Epf Interest Rate Malaysia

Employees provident fund malaysia epf is a federal statutory body under the purview of the ministry of finance employees provident fund epf will allow education withdrawals for professional certificate programmes under budget 2020 every company is required to contribute epf calculator for its staff workers and to remit the contribution sum to kwsp before the 15th day of the following. The revised epf interest rate is now 8 55 which is 10 bps lower than the previous interest rate. The announcement was made by finance minister tengku zafrul aziz today during the tabling of budget 2021.

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For 2019 20 the interest rate is 8 50 which is reduced from the earlier 8 65 per cent.

Epf interest rate malaysia. The government guarantees a dividend of not less than 2 5 per cent per annum for conventional account there is no guarantee for shariah savings account. In 2012 13 also epf interest rates were slashed to 8 5. Epf dividend rate for all your contributions the government guarantees a minimum paid dividend rate of 2 50 for simpanan konvensional. For 2019 the epf dividend rate was 5 45 for conventional and 5 00 for syariah savings.

The minimum employee contribution rate for the employees provident fund epf will be set at 9 starting from january 2021 for a period of 12 months. The epf interest rates kept on fluctuating in between the year and at present it has reached its 7 year low point. The dividend payment would be deposited directly into each member s epf account. Epf dividend rates are usually announced in february.

Epf historical returns data since inception in 1952 current investments overview dividend calculation and future performance estimates. Employee s share of contribution rate for 2021. Dividend rates for simpanan shariah will be based on actual performance of the epf s shariah compliant investments. Now including epf simpanan shariah returns.

For the conventional fund the rate is the lowest it has been since 2008 where the dividend was at 4 5. New epf interest rate was announced by the union labour minister santosh gangwar on 3rd march 2020. Because 75 of investment funds are concentrated towards bodies closely linked to trends in the interest market rate including malaysian government securities loans or bonds and money market instruments low interest rates for the past few years had an adverse effect on returns for epf. The interest rate for the scheme has been revised and lowered by 0 15 for the current financial year.

The latest employee s share of the statutory contribution rate is 9 of the monthly wage more info. The epf also attributes the declining interest market rate since 1996 to the interest market rate. Feb 22 2020 epf historical performance.