EPF registers 80.58% increase in i-akaun service usage in Q1


  • Corporate News
  • Tuesday, 12 Jun 2018

The EPF reassured its members that it has a strong and robust governance framework in place to prevent fraud on its members

KUALA LUMPUR: The Employees Provident Fund (EPF) posted an 80.58% increase in the number of usage of its electronic service i-Akaun to 11.12 million in its first quarter (Q1 2018) from 6.16 million in the corresponding period last year.

In a statement, the pension fund said a total of 5.06 million members had registered with i-Akaun, representing 36.38% of the total EPF members as at end-March. 

The EPF also recorded an increase in the number of downloads of the ‘EPF i-Akaun’ mobile app to 2.36 million since its roll-out in 2014. More enhancements were introduced to the i-Akaun in order for members to receive real-time updates on EPF products and services as well as other key announcements.

“The EPF has been introducing several more enhancements to its service delivery channels as its membership and employer database continue to increase every quarter. We have especially been focusing on the i-Akaun facility as it is a primary gateway for members and employers to monitor their account and access other online services such as e-Pengeluaran and e-Caruman,” deputy chief executive officer (operations) Datuk Mohd Naim Daruwish said. 

As at end March 2018, a total of 433,691 or 99.95% of employers used the EPF’s electronic medium, including e-Caruman, to submit their employees’ contribution details, whereas 333,550 or 77.22% used the e-Payment system to make contribution payments.

During the quarter under review, visitor traffic to the myEPF portal increased 29.11% to 8.66 million from 6.71 million in the corresponding quarter last year. Usage of EPF Kiosks reported a decline of 11.22% from 3.81 million in Q1 2017 to 3.38 million in Q1 2018.

The total number of visits to the EPF counters declined 12.88% from 929,729 in Q1 2017 to 810,022 in Q1 2018, thus indicating members’ preference to use the online platform to interact with the EPF. Phone calls received by the EPF Contact Management Centre, meanwhile, increased 15.43% to 425,873 as at Q1 2018.

As at end March 2018, the number of EPF members totaled 13.91 million, of whom 7.18 million were active contributors with 148,212 newly registered members.

In tandem with the increase in membership, the EPF recorded a 10.83% increase in contributions received in the first quarter to RM19.24bil from RM17.36bil recorded in the same quarter last year, bringing the total accumulated members’ contributions to RM774.48bil.

Meanwhile, the total number of approved applications for all withdrawals in Q1 2018 increased 9.52% to 644,715 from 588,659 in Q1 2017. This involved the total amount withdrawn in Q1 2018 of RM13.42bil, compared with RM14.10bil in the corresponding period in 2017.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

EPF , KWSP

   

Did you find this article insightful?

Yes
No

Across the site