All EPF contributions to go to Account 1 to replenish savings, says Deputy Finance Minister

  • 📰 staronline
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 75%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

KUALA LUMPUR: The Employee's Provident Fund (EPF) will place all contributions into Account 1 in order to replenish the savings of its members who have withdrawn funds to weather the economic effects of the Covid-19 pandemic.

Deputy Finance Minister Mohd Shahar Abdullah said a total of RM101bil has been withdrawn under the i-Lestari, i-Sinar, and i-Citra stimulus packages since the pandemic began last year.

Once the amount is replenished, Shahar said EPF will go back to its previous system of 70% in Account 1 and 30% in Account 2. Meanwhile, Shahar said there were several measures to ensure retirement savings do not dwindle, among them a rule that allows members to make monthly withdrawals so they can enjoy dividends on their savings and employers being required to contribute 4% of the monthly salary of those above 60.

Last Tuesday , it was reported that about 3.6 million EPF contributors have less than RM1,000 in their respective accounts.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 4. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen