AmanahRaya clarifies on viral issue of EPF members' money

KUALA LUMPUR: The content of a message related to the naming of the beneficiary (nominee/nominees) by an Employees' Provident Fund (EPF) member, which is now viral on the WhatsApp application, is not true.

Amanah Raya Berhad (AmanahRaya) said the content of the message implies that if an EPF member names a beneficiary who becomes deceased earlier than the account holder, the account will be automatically channelled to AmanahRaya, is misleading.

"AmanahRaya, at all times can be appointed as Administrator or Trustee by the courts, Small Estate Office (in Dept of Lands and Mines) or AmanahRaya itself under the Amanah Raya Corporation Act 1995.

"All inheritances administered by AmanahRaya will only be divided among the legitimate heirs according to the provisions of applicable laws,” AmanahRaya said in a statement.

According to the statement, an EPF member’s contributions will only be channelled to AmanahRaya when three conditions occur, including if AmanahRaya is appointed as the Administrator of the estate of an EPF member who has died.

In addition, only when AmanahRaya is appointed as a Trustee for the part of the heirs (or kin) of EPF members who are underage or AmanahRaya is appointed as a Trustee for Persons with Disabilities because they do not have the legal capacity to receive, manage or hold the EPF savings.

The public can get more information on the issue or about AmanahRaya services by calling 03-2723 7273, email [e-mail] and WhatsApp [phone]. - Bernama