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Friday April 4, 2014 MYT 12:00:00 AM
Friday April 4, 2014 MYT 6:59:57 AM
by hemananthani sivanandam
PETALING JAYA: Employees Provident Fund (EPF) account holders can now use their smartphones to access their savings via the “EPF i-Akaun” mobile application.
The application, developed in-house and launched yesterday, is available for smartphones and tablets with Android version 2.2 and above and can be downloaded for free from the Google Play Store.
The EPF i-Akaun application is its newest product catering to the growing demand in electronic delivery channels, said EPF deputy chief executive officer for operations Datuk Ibrahim Taib.
“It gives members with i-Akaun instant access to their EPF savings.
“This allows them to keep track of their savings against the basic savings quantum which serves as a guideline for members to better manage their monies.
“In addition, the mobile application makes it faster and simpler for members to check their EPF statement and to ensure that employers submit their contributions timely and accurately,” said Ibrahim in a statement.
The application also updates members on the latest news on EPF as well as a direction map to its offices.
The application comes equipped with an online calculator, which allow members to calculate their estimated annual EPF contributions, how much they are allowed to take out for housing and estimated amount that can be invested through the EPF Members Investment Scheme (EPF-MIS).
“At this initial stage, the application carries the basic features. In the near future, we will incorporate other EPF services to offer even greater convenience to our members,” said Ibrahim.
Members who want to register for i-Akaun can visit any EPF branch, kiosk or call the EPF call centre at 03-8922-6000 to obtain an activation code. They can also log on to www.kwsp.gov.my.
EPF has over 13 million members nationwide.
In February, it declared a 6.35% dividend rate, amounting to its biggest payout of RM31.2bil.
EPF chairman Tan Sri Samsuddin Osman said the payout for the year 2013 increased by almost 14% from the previous year’s RM27.45bil.
The dividend rate, the highest since 2000, has also increased steadily from 5.65% in 2009 to 6.35% last year.
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Business, EPF mobile app
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