KUALA LUMPUR, 31 March 2016: The Employees Provident Fund (EPF) today published the 2016/2017 List of Fund Management Institutions (FMI) and unit trust funds qualified for offering under the EPF Members Investment Scheme (EPF MIS), for the period between 1 April 2016 and 31 March 2017.

The list of unit trust funds offered under the EPF MIS is evaluated annually based on the criteria established by the EPF and approved by the Ministry of Finance Malaysia. Any fund which falls below the minimum requirement will be suspended and will not be offered during the period.

EPF Deputy Chief Executive Officer (Investment) Dato’ Mohamad Nasir Ab Latif said, “A total of 234 unit trust funds from 23 FMIs are qualified to be offered under the EPF MIS for the period of 2016/2017, compared with 217 unit trust funds for 2015/2016.”

For the full list of funds offered under each appointed FMI, members can refer to myEPF website at http://www.kwsp.gov.my/member/investment.

The EPF MIS allows members to transfer part of their savings from Account 1 for investments as an option to enhance their retirement savings. Under the scheme, members may transfer not more than 20 per cent every three (3) months from the savings in excess of the Basic Savings amount in Account 1 through the appointed FMIs.

The Basic Savings is a pre-determined amount set according to age in Account 1 to ensure members have at least RM196,800 upon reaching age 55. The Basic Savings quantum was benchmarked against the minimum pension of RM820 per month for 20 years from 55 to 75 years old.

Members are reminded that the investment under the EPF MIS is voluntary and members take full responsibility over their decision to invest based on the objectives and risks profile that suit them. Members are encouraged to seek advice from qualified financial advisers
before deciding to participate in the scheme.

The EPF also provides a Fund Information Portal which can be accessed for free via i-Akaun. The Information Portal is for members to obtain information on unit trust funds offered under the scheme as well as FMIs which are managing these unit trust funds. By this, members would be able to conduct their own research to assist them to make informed investment decision.

“Even though the EPF approved these unit trust funds, it does not mean we are making any recommendations or suggestions for members on any of the unit trust funds,” Dato’ Mohamad Nasir said.

To safeguard the scheme and investing members, the EPF has issued guidelines to be complied by FMIs to ensure they carry out their duties diligently and responsibly. The EPF may issue warnings, fines, suspension or even revocation of appointment if an FMI fails to comply with the instructions or guidelines issued.