KUALA LUMPUR: The Employees Provident Fund (EPF) has launched the EPF Members Investment Scheme (EPF-MIS) information portal to provide members with information on unit trust funds offered under EPF-MIS as well as fund management institutions (FMIs) which are managing these unit trust funds.
EPF said in a statement that the portal, which is managed by an external party, could be accessed by members through members’ i-Akaun and was free of charge.
“The EPF-MIS is a scheme that allows members to voluntarily transfer a portion of their savings from Account 1 for investment, offering them the option to enhance their retirement savings. Under this scheme, members can invest through FMIs appointed by the EPF not more than 20% every three months of the total savings from Account 1 in excess of their respective Basic Savings,” it said.
Deputy chief executive officer (investment) Mohamad Nasir Ab Latif said the EPF-MIS information portal was an initiative to allow members to conduct their own research on the unit trust funds offered and FMIs before deciding to make any investment.
“There are 333 unit trust funds managed by 24 FMIs under the EPF MIS. However, for the period of 2015/2016, only 216 unit trust funds are qualified to be offered. Information on these unit trust funds and FMIs are available in this portal,” he said.
Mohamad Nasir said the retirement savings fund only provided general information in the portal that did not carry any form of investment advice or recommendations on any of the unit trust funds and FMIs.
He advised members to understand the costs and risks involved before investing, reminding them that they were fully responsible for their investment decisions.
“There is no guarantee that all investments will always be profitable because the performance of the unit trust funds managed by the FMIs today is not an assurance of their future performance. Members are advised to seek advice and details from qualified advisers or financial planners before deciding to participate in the EPF-MIS,” said Mohamad Nasir.