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Epf basic saving table 2019. The amount will be set as the minimum target epf basic savings members should have upon reaching age 55. Return of investment proceeds to epf members are required to return all amount including profits made. Published on jan 3 2019 what are the changes affecting epf basic savings starting january 1st 2019. Kuantum baharu simpanan asas bermula januari 2019.
New basic savings quantum begins january 2019. The quantum for the basic savings will be revised from the current rm228 000 to rm240 000 the minimum target epf basic savings. According to epf the basic savings refer to the amount that is considered sufficient to support members basic retirement needs for 20 years from age 55 to 75 aligned with the malaysian life. The latest epf interest rate is 8 50 for the financial year 2019 20.
What are the changes affecting epf basic savings starting january 1st. Visit the post for more. The new quantum for the basic savings in epf account 1 will be revised from rm228 000 rm 950 per month for 20 years to rm240 000 rm1 000 per month for 20 years at member s age of 55 years old. The latest epf basic savings will take effect on jan 1 2019.
Kuala lumpur 28 november 2018. Hopefully this epf calculator excel sheet will help you understand the retirement savings product employee provident fund epf better and also act as a decision making tool to make informed investment decisions about how much you can save in epf corpus for retirement. Kuala lumpur 28 november 2018. Employers are required to remit epf contributions based on this schedule.
The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in the third schedule epf act 1991 click to download. Basic savings table age years basic savings rm age years basic savings rm 18 2 000 37 68 000 19 4 000 38 74 000 20 6 000 39. The employees provident fund epf announces that the quantum for the basic savings will be revised from the current rm228 000 to rm240 000 effective 1 january 2019. Calculate potential gains or risk losses from investing.
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