Secure your future with voluntary EPF contributions.
WE live in a time when financial security is paramount, exemplified in the last few years during and post-pandemic.
The Employees Provident Fund (EPF) is a retirement savings account for employees in the private sector, non-pensionable sector or voluntary contributors.
The EPF savings is meant to be used in retirement, as such it is recommended to set aside a sufficient amount in savings on top of mandatory contributions to build a sustainable retirement fund.
The EPF savings, crafted to be a pillar for your retirement, provides a robust foundation for a secure and comfortable retirement.
On EPF’s end, it diligently invests in a diverse portfolio of assets to meet the guaranteed minimum 2.5% annual dividend to Simpanan Konvensional members and for those who opt for Simpanan Shariah the dividend rate is based on actual performance of shariah-compliant investment.
Voluntary contribution
Employees’ mandatory contribution are made through monthly salary deduction by their employer.
Monthly contributions are made up of the employee’s and employer’s share and will be credited into the employee’s EPF account.
Apart from mandatory contributions, it is strongly advised to proactively save enough money to systematically create a viable retirement account.
Voluntary contribution empowers individuals to take control of their financial future by adding to their retirement savings.
Jom Tambah
In line with this voluntary contribution recommendation, EPF has introduced a campaign offering members the opportunity to voluntarily top up their savings – Jom Tambah. Eligible members get to enjoy the following benefits:
> Annual dividend: Enjoy annual dividends on top of regular retirement savings, ensuring wealth grows over time.
> Alleviate living expenses: Flexibility to make withdrawals from EPF for housing, education, health, and more. For example, education withdrawal allows you to finance educational expenses such as tuition fees or pay off your PTPTN loans.
> Tax relief: Enjoy tax exemption on contributions, subject to the terms and conditions set by the Inland Revenue Board.
Moreover, the recent increase in the maximum savings amount for voluntary contributions, from RM60,000 to RM100,000 per year, provides even greater potential for achieving your financial goals in a shorter timeframe.
Contributing made easy
Now, with the new KWSP i-Akaun app, contributing to your EPF savings has never been easier.
The app offers a host of user-friendly features to streamline and simplify the process, allowing you to top up your savings conveniently and securely.
Seize the opportunity to build a future of financial security and secure the brighter future you deserve.
Download KWSP i-Akaun app and start topping up now. For more information, visit KWSP.
