Thursday, April 23, 2015

KWSP@EPF Full Withdrawal Stays At 55

This week, the hot topics for many Malaysian is on the 'Enhancement Initiatives of EPF Scheme'. Among the initiatives is to raise the full withdrawal to 60 from the current 55. From 21 Apr till 5 May 2015, KWSP@EPF is inviting its member to contribute their opinion through the online survey by logging in to i-Akaun. Since I am an i-Akaun user, so, last night I took some time to log-in, to further understand the enhancement scheme. 

Among the questions asked is whether the member agree or disagree to raise the current full withdrawal age to 60 years old. Of course I disagree because I think at 60, I will be too old to enjoy my retirement fund. Other than this, KWSP@EPF also shared a few options to maximize its members' retirement fund. The survey consist of a few sections with clear explanation and example on some of the questions asked. I spent about 30mins to complete the survey. I find that it is important to further understand the meaning of the question ask by clicking on the explanation and examples provided. Because, a sentence might not be able to give a clear picture of the actual meaning of that question. At the end of the survey, member is given an opportunity to leave a comment.

Overall, I would say KWSP@EPF had done a great job in creating the online survey to gather feedback from its member. And as at today, more than 50K member had responded to the online survey.

Based on the survey, today, Prime Minister had also announced that KWSP@EPF full withdrawal stays at 55. You can read the article here.

I would still strongly encourage you to participate in the survey. 

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