1.4 million EPF members receive RM500 one-off additional contribution
Astro Awani
January 10, 2024
1.4 million EPF members receive RM500 one-off additional contribution
The Employees' Provident Fund (EPF) has credited the Government's Additional Contribution incentive amounting to RM708 million to 1.4 million EPF members aged between 40 and under 55.
KUALA LUMPUR: The Employees' Provident Fund (EPF) has credited the Government's Additional Contribution incentive amounting to RM708 million to 1.4 million EPF members aged between 40 and under 55.
This incentive is allocated to individuals who have EPF savings of RM10,000 and below in their Account 1 as of 24 February 2023.
"This RM500 one-off contribution incentive , which was announced during the presentation of Budget 2023 on 24 February 2023, aims to encourage EPF members who have low savings and are approaching retirement age to continue saving and strengthen their retirement savings", said the EPF in a statement issued.
Added to the retirement fund, these incentives are also aligned with the goal of increasing savings and contributing to the broader goal of building a resilient financial future.
