In Malaysia, it is compulsory for employers to pay monthly 12% – 13% EPF contribution for their employees, and 11% contributed from employee’s monthly salary (7% in year 2020).
𝐇𝐨𝐰 𝐜𝐚𝐧 𝐰𝐞 𝐮𝐬𝐞 𝐭𝐡𝐞 𝐬𝐚𝐯𝐢𝐧𝐠𝐬?
EPF contribution will be separated into 2 accounts:
- 70% of total monthly contribution (employers + employees)
- Savings can only withdraw after aged of 55 for retirement purpose
- 30% of total monthly contribution (employers + employees)
- Savings can withdraw under several situation
[Kindly refer to pictures for details]
𝐇𝐨𝐰 𝐭𝐨 𝐜𝐡𝐞𝐜𝐤 𝐦𝐲 𝐬𝐚𝐯𝐢𝐧𝐠 𝐛𝐚𝐥𝐚𝐧𝐜𝐞?
- Members can check their saving balance via https://secure.kwsp.gov.my/member/member/login.
(𝐹𝑜𝑟 𝑓𝑖𝑟𝑠𝑡 𝑡𝑖𝑚𝑒 𝑢𝑠𝑒𝑟, 𝑟𝑒𝑔𝑖𝑠𝑡𝑟𝑎𝑡𝑖𝑜𝑛 𝑐𝑎𝑛 𝑏𝑒 𝑑𝑜𝑛𝑒 𝑎𝑡 𝐸𝑃𝐹 𝑏𝑟𝑎𝑛𝑐ℎ𝑒𝑠.)