EPF Scheme
Enhancement:

What You Need To Know

KWSP Enhancement Initiative

In line with the mission to empower members in managing challenges with regards to insufficiency of retirement savings, the EPF conducted the Public Consultation exercise from 21 April until 5 May 2015 in order to obtain input and feedback from EPF members relating to several proposals to enhance the current retirement schemes. A total of 96,448 responses had been recorded via i-Akaun during the exercise.

The results:

Age 55 Withdrawal To Remain, Age 60 Withdrawal Introduced

  • A total of 94 per cent of members agreed with EPF’s proposal to maintain the Full Withdrawal at Age 55, with new contributions from Age 55 to 60 to be locked in until age 60.

Dividend Payment To Extend Until Members Reach Age 100

  • A total of 61 per cent agreed with EPF’s proposal to extend the dividend payment from age 75 to age 100 to allow members benefit from the compounding effect to their retirement savings.

The EPF also enhanced several aspects of other policies to ensure members’ retirement well-being.

 

FREQUENTLY ASKED QUESTIONS

For more information,
Please call us at 03-8922 6000.