Date: 10 Jan 2025
EPF Introduces Faster Access and Monthly Activation for Simpanan Shariah

KWASA DAMANSARA, 10 January 2025: The Employees Provident Fund (EPF) today introduced two key features to Simpanan Shariah that will provide faster access and flexibility for members effective 1 April 2025. These enhancements enable immediate registration to Simpanan Shariah for new members and monthly effective date for all members opting in.

The EPF will roll out these enhancements based on the transition period from 25 December 2024 to 31 March 2025 to ensure that this initiative runs smoothly. During this time, the effective date of Simpanan Shariah for members opting in is as follows:

 

Transition Schedule

  • Before 25 December 2024: Effective date will be 1 January 2025.
  • Between 25 December 2024 and 24 March 2025: Effective date will be 1 April 2025.
  • Between 25 March and 31 March 2025: Effective date will be 1 May 2025.
  • From 1 April 2025 onwards: Effective date will be the 1st of the month following their opt-in date, subject to a seven-day grace period. For example, members who opt in on 15 April 2025, the effective date will be 1 May 2025. If members opt in on 25 April 2025, the effective date will be 1 June 2025, instead of 1 May 2025, taking into account the seven-day grace period. 

 

With the new registration feature, new EPF members can now select Simpanan Shariah as their preferred account type during self-registration.

Previously, changes to Simpanan Shariah took effect only on 1 January of the following year. Under this enhancement, the effective date will now be the first day of the following month, subject to a seven-day grace period, allowing members to transition to Shariah compliance more quickly. This update minimises waiting periods from yearly to monthly, ensuring members’ investments are Shariah-compliant from early on.

This enhancement provides members with greater control and flexibility, making it easier to manage their retirement savings in line with their financial and Shariah-compliant savings option preferences. 

For more information on the new enhancement features and Simpanan Shariah registration, visit the EPF website at www.kwsp.gov.my, or call the EPF Contact Management Centre at 03-8922 6000.


Issued by
Editorial and Media Relations Unit 
Corporate Affairs Department
10 January 2025

About the Employees Provident Fund® (EPF®)
Established in 1951, the Employees Provident Fund® (EPF®) is a social security organisation and one of the leading retirement funds in the world dedicated to protecting members’ savings and delivering exceptional services. Committed to its purpose of building a better retirement future for Malaysians, the EPF has expanded its functions to encompass a comprehensive social wellbeing ecosystem. The EPF remains steadfast in its efforts to continually update and improve its services, ensuring a solid foundation for sustainable, holistic, and equitable wellbeing for all Malaysians.