KUALA LUMPUR: The Employees Provident Fund (EPF) has refuted information which has gone viral on WhatsApp that savings belonging to members with beneficiaries below the age of 18 will automatically be channelled to Amanah Raya Berhad upon their death.
In a statement issued by its Corporate Affairs Department, EPF said the viral information on nomination was not true.
It said in a death involving Muslim members, the nominees named acted only as administrators, whereby they are responsible to distribute the savings, which have become inheritance, according to the Islamic inheritance law (Faraid).
"According to the law, the nomination does not take effect if at the time of the member's death, the nominees are below the age of 18 because they are not eligible to act as administrators of the estate.
"However, this does not mean a member's child who is below 18 years of age whose name is registered as a nominee, has no right over the savings," it said.
According to EPF, disbursement of savings belonging to deceased members would be processed as if there were no nominees based on the distribution according to Faraid or the Letter of Administration which had been unduly submitted to the fund.
For non-Muslims, the nominees are the absolute beneficiaries or recipients of the savings, regardless of their age, it said.
For any inquiries, the public can surf the EPF website at www.kwsp.gov.my or contact its Customer Management Centre at 03 8922 6000. - Bernama