EPF: Members will continue to earn dividends up to age 100


KUALA LUMPUR: The Employees Provident Fund (EPF) has clarified that members will continue to earn dividends for the remaining portion of their EPF savings up to age 100.

In a statement, EPF has clarified that an old statement regarding the maximum age of 75 years for EPF dividend payment, which is currently circulating via WhatsApp and other online platforms, is outdated and no longer applicable.

“As announced in an EPF media statement dated Nov 3, 2016, effective Jan 1, 2017, members will continue to earn dividends for the remaining portion of their EPF savings up to age 100,” it said.

“This measure was introduced following the amendment to the EPF Act 1991 to ensure that members who choose to maintain a portion of their savings with the EPF after retirement will continue to benefit from the compounding effect of annual dividends until their EPF savings have been fully withdrawn,” EPF said.

The EPF will inform members prior to transferring any unclaimed savings when the member reaches age 100.

Any claim after the transfer can be made through the Registrar of Unclaimed Monies.

The EPF urged members to be cautious of misleading or unsubstantiated information received through social media platforms and refrain from circulating them.

Members are advised to always verify the source and date of the information obtained.

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EPF , Employees Provident Fund , dividend

   

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