KUALA LUMPUR: The Employees Provident Fund (EPF) has launched an EPF Members Investment Scheme (EPF-MIS) Information Portal.
Its objective is to provide information on unit trust funds offered under the scheme and Fund Management Institutions (FMIs) managing it.
The portal can be accessed by members through the i-Akaun and is free, the EPF said in a statement yesterday.
“The EPF-MIS is a scheme that allows members to voluntarily transfer a portion of their savings from Account 1 for investment, offering 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 portal was an initiative by EPF to provide members with more information to make informed decision.
“There are 333 unit trust funds managed by 24 FMIs under the EPF-MIS.
“However, for 2015/2016, only 216 are qualified to be offered. Information on these funds and FMIs are available in this portal,” he added.
Nasir, however, said there was no guarantee that all investments would be profitable, as the current performance of the unit trust funds managed by the FMIs, was not an assurance of what’s in the future.
“Members should seek advice from qualified advisers or financial planners before deciding to participate in the EPF-MIS,” he added. – Bernama