Wednesday, March 11, 2009

EPF @ KWSP - Have You Made Your Nomination?

For most of us, perhaps our EPF is our biggest saving account. Our EPF consist of an estimated 23% of our monthly salary. That's more than 1/5 of our income. Its main purpose is to provide support for our old age.

Have you ever wondered, what would happen if you suddenly have to say goodbye forever to this world? What would happen to your EFP saving? Will your loved ones or dependents know about your EFP savings? Are they aware about your EFP savings? Even if they know about it, can they easily withdraw your EPF savings in case something happen to you?

EPF encourages its member to nominate their beneficiary to facilitate and expedite the withdrawal of their EPF savings by the persons nominated, in case the member passes away. But, for us (the EPF members), we MUST make our nominations. This is especially important for those with family (spouse and children). Make sure you fill in the KWSP Form 4 and update your nominations accordingly. After all, we want to ensure that our hard earned money in our EPF account will be distributed to our loved ones the way we would have wanted it to be when we are no longer around.

Make your nomination now!

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