You need to know this about your EPF retirement funds nomination. Don’t risk falling for viral hoaxes. Get accurate information on your nomination and beneficiaries!
“By planning ahead and nominating your beneficiary early, you can protect your loved ones from unnecessary complications and keep them financially secure even after you’re gone.” ~Employees Provident Fund (EPF)
- When you make a nomination, you are appointing an individual or institution to receive and oversee your EPF savings in the event of your demise.
- You can nominate one or more nominees with EPF recommending you nominate your immediate family (i.e. spouse, children or parents).
- Who can nominate: Age 18 years above being Malaysians, Permanent Residents (PR) OR Non-Malaysians (registered as EPF Members before 1 August 1998.
- You will need to bring a copy of your identification card or MyKad for Malaysian citizens (passport for non-citizen) and a copy of identification document for each beneficiary.
- You do not need to have a witness for your nomination effective from January 1, 2017.
- Nominee for Muslim member is a Wasi (Administrator) to apportion member’s EPF savings upon the member’s death to the rightful beneficiary in accordance with Islamic Law.
- An EPF member can choose to nominate Amanah Raya Berhad (ARB) who will then become Administrator to ALL (100%) of the member’s savings.
- Nominee for non-Muslims member is the actual rightful beneficiary who will receive the savings upon member’s demise.
- An EPF member can choose to nominate Amanah Raya Berhad (ARB) who will then become Administrator to ALL (100%) of the member’s savings. If nominee below 18 years old, ARB will act as trustee.
EPF (Discretionary) Death Benefit
EPF may at their discretion give an additional Death Benefit of RM2,500 subject to the following conditions:-
- Demised member is a Malaysian citizen.
- Demised member is below age 60 at time of death.
- Application for Death Withdrawal is made within 6 months of date of demise.
Frequently Asked Questions on EPF Nomination
Q: Is it true that my nominee will NOT receive my savings if I pass away?
If you are a non-Muslim, this is not true. Your nominee(s) is y