CONTRIBUTION
If you are still working after 55 years of age, it is COMPULSORY for you to contribute to the EPF. The maximum duration of contribution is until you reach 75 years old.
The EPF contribution rate is 6% (employer) & 5.5% (employee).
WITHDRAWAL
Do you know that members must withdraw the balance in their EPF account after 75 years old as no credit for dividend is allowed?
EPF will pay dividend on the member savings until he attains at the age of 75. Any savings for the member above the age of 75 will not receive any dividend.
Some thought that being rich they can leave it there to earn better interest. If not withdrawn & if not contactable, EPF will transfer the amount to Amanah/Registrar of Unclaimed Monies until the next of kins claim the amount.
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