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Members Investment Scheme Eligibility 

The new quantum for the Basic Savings for Members Investment Scheme has been implemented starting 1 January 2019. The revised Basic Savings sets RM240,000.00 as the minimum amount members should have in their EPF account when they reach age 55.

 

Definition of Basic Savings

Basic Savings is a pre-determined amount set according to age in Account 1 to enable members achieve a minimum savings of RM240,000.00 when they reach age 55. The amount in excess of the Basic Savings can be invested in products offered by appointed Fund Management Institutions.

 

Rationale

The rationale for the implementation of the Basic Savings is to ensure that members have sufficient savings at a minimum amount of RM1,000.00 per month when they retire in order to support their basic retirement needs for 20 years from age 55 to 75, in line with Malaysians' life expectancy. 

 

Terms of Withdrawal

  • Members can transfer not more than 30% from the savings in excess of the Basic Savings amount in Account 1.
  • Investments can be made at a three-month interval from the date of the last transfer, and the minimum amount for Members Investment Scheme is RM1,000.00.
  • The terms and conditions for Members Investment Scheme remain with no changes.
  • The Basic Savings Table and methods for calculating the allowed amount for withdrawal under the Members Investment Scheme are as below:

 

Required Basic Savings in Account 1

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

80,000

21

8,000

40

86,000

22

10,000

41

93,000

23

13,000

42

101,000

24

15,000

43

108,000

25

18,000

44

116,000

26

21,000

45

125,000

27

24,000

46

134,000

28

27,000

47

144,000

29

31,000

48

154,000

30

35,000

49

164,000

31

39,000

50

175,000

32

43,000

51

187,000

33

47,000

52

199,000

34

52,000

53

212,000

35

57,000

54

226,000

36

62,000

55

240,000

 

Calculation Methods for Allowable Investment Amount

Member

Age

Saving in Account 1     (RM)

New Basic Savings
(RM)

Calculation for Investment (30%)

Eligibility

A

22

4,000.00

10,000.00

-

Member is not eligible. Savings in Account 1 is less than the new Basic Savings 

B

22

11,000.00

10,000.00

RM11,000.00 – RM10,000.00 x
     30% = RM300.00
 

Member is not eligible. Minimum eligible amount is  RM1,000.00

C

25

24,000.00

18,000.00

RM24,000.00 – RM18,000.00 x
30% = RM1,800
 

Member is eligible.  Minimum eligible amount is RM1,000.00 and the maximum amount is RM1,800.00

 
 
Enquiries
 
If you require any additional information on Members Investment Scheme, kindly contact:-
  • Any EPF branches nearest to you
  • The EPF Contact Management Centre (CMC) at: 03-8922 6000
  • Customer Feedback at http://enquiry.kwsp.gov.my
Please quote your EPF number or your Identification Card number and the type of withdrawal that you have applied for when you contact the EPF. Members can also visit the EPF website at www.kwsp.gov.my for more information on the types of withdrawal and general guidelines.
 
 
Updatedi: 1 January 2019
 
Reviewed: 1 January 2019