Page 10 - Epf News Today

The industry has welcomed the Department for Work and Pensions’ (DWP) focus on enabling defined benefit (DB) surplus extraction and a public sector consolidator following its consultation.

The average new additions in the third quarter of the fiscal were still lower than in the first half of the year, given the easing of economic activity. Experts estimate that growth likely eased below 7% in Q3FY24, compared with 7.7% average for the first half of the year.

Civil service pension reform is urgent. Pension costs have ballooned from RM6.8bil in 2005 to RM32.4bil this year and could rise to RM46bil by 2030 and RM120bil by 2040.

PETALING JAYA: With the Employees Provident Fund (EPF) recording a stronger performance in the first nine months of the 2023 financial year (FY23), experts are anticipating a higher dividend declaration this year.

Out of the three PF claim categories – final settlement, transfer and withdrawal – the rejection rate has sharply increased for the final settlement of PF claims over the last five years.

Out of the Shs1.8 trillion, the police managed to recover only Shs80b

More details on the rationale behind the closure of the SA for members aged 55 and above from early 2025, how much one can withdraw from their CPF, and more.

The Financial Reporting Council (FRC) has issued the latest update to the signatories list of the UK Stewardship Code.

RETAINING the pension scheme for law enforcement agencies like the Armed Forces is crucial because of their short service periods, says Johor Youth Council deputy president Mohammad Alif A. Rahim.

EPFO members nominate family for provident fund distribution. Legal heirs inherit funds if no nominee is declared. Recent Supreme Court ruling prioritizes succession laws over nomination process for fund distribution.