Today's news on The Star Online stated that EPF@KWSP is launching a campaign to remind its member to nominate beneficiaries for their savings. The campaign will run from 16 Nov 2009 to 21 Dec 2009 with advertisements through the radio and in newspapers to nominate and update their EPF nominations.This is a great effort by EPF@KWSP to ensure that the savings goes to the right person in case of sudden death.
When reading the news, I was surprise to know that only 23% of the 12.4 million EPF@KWSP members had nominated their beneficiaries. That was a very small percentage.
We can contribute to the campaign by the followings:
1) Ensure that we ourselves name and update our beneficiaries;
2) Ensure that our spouses name and update his or her beneficiaries;
3) Ask our family members, friends and co-workers whether they had updated their beneficiaries;
4) Suggest to our company Human Resource Department to issue a memo and encourage all staff to name and update their beneficiaries;
5) Post in our blogs on the importance of making the EPF&KWSP nominations
If you have not nominate any beneficiaries yet, act now. Let's ensure our hard earned money goes to the right individuals.