Tuesday July 3, 2012
EPF urges the self-employed to join scheme
KUALA LUMPUR: The Employees Provident Fund (EPF) is encouraging self-employed individuals and those without fixed monthly income to join the EPF 1Malaysia Retirement Savings Scheme.
EPF deputy chief executive officer (operations) Datuk Ibrahim Taib said the scheme, opened to all Malaysians below 55 years, was a government initiative designed for the self-employed and those without a fixed monthly income.
By saving under the scheme, the contributors will not only benefit from the EPF annual dividend but also the additional contribution of 5% subject to a maximum amount of RM60 per year provided by the Government until 2014, he said in statement yesterday.
“Under this scheme, participants are given the flexibility to contribute voluntarily based on what they can afford and are not compelled to make monthly contributions,” he said. – Bernama