Epf Basic Saving 2017

Employees provident fund.

Epf basic saving 2017. You have rm40 000 in akaun 1 which means you have rm11 000 in excess. The employees provident fund epf has announced that the quantum for the basic savings will be revised from rm196 800 to rm228 000 effective jan 1 2017. Epf increases minimum basic savings to rm228k at age 55 epf mis withdrawal to 30 from jan 1 2017. The last time the minimum basic savings was increased was in 2014 january 1.

Epf head of strategy management department balqais yusoff said the epf basic savings quantum is revised periodically according to the minimum pension for public sector employees or every three years whichever earlier with the last revision having taken effect in 2017 with the new basic savings in place members will now accordingly be required to have higher savings in their epf account in order to be eligible to participate in the epf members investment scheme. Kuantum baharu simpanan asas bermula januari 2019. Attention to all epf members investment scheme mis members epf has just announced that they will revised the basic savings threshold before a member can withdraw for investment purpose effective jan 2017. The amount will be set as the minimum target epf savings members should have when they reach age 55 it said in a statement here today.

Epf increase its basic saving starting from 2017 eligible amount increase fr 20 to 30. Updated oct 5 2016 the minimum target savings is the least epf savings member should have. This amount is has been calculated to be sufficient for malaysians to survive for 20 years after retirement at the age of 55. Currently you can utilise 20 of your excess savings for investment but as of 1 january 2017 you will be allowed to utilise 30 of your excess savings.

Effective 1 january 2019 the target savings for epf members will be raised from rm228 000 to rm240 000. During the last decade the highest dividend rate offered by the epf was in 2017 6 9 followed by 2014 at 6 75. Let s say you re 30 according to the basic savings set by epf you should have at least rm29 000. Kumpulan wang simpanan pekerja kwsp hari ini mengumumkan bahawa kuantum baharu simpanan asas akan dinaikkan daripada rm228 000 kepada rm240 000 bermula 1 januari 2019 jumlah ini akan ditetapkan sebagai jumlah sasaran simpanan minimum ahli perlu ada apabila mencecah umur 55 tahun.

Here are latest rules for 2017 by the epfo you must know explore latest photo. According to epf the basic savings refer to the amount that is considered sufficient to support members basic retirement needs for 20 years. Even during the 2008 global financial crisis the epf still managed a respectable 4 5 dividend. Here are latest rules for 2017 by the epfo you must know.