Page 25 - Epf News Today

President Bola Ahmed Tinubu has approved yearly recruitment into the Nigeria Police Force (NPF), the Inspector General of Police (IGP), IGP Kayode Egbetokun, has disclosed.

KUALA LUMPUR: Any new additional pre-retirement withdrawals, whether targeted or open, will further exacerbate the issue of insufficient retirement savings, which is currently at a very alarming level, the Finance Ministry said.

The number of first-time workers entering the formal job market declined in September, with both the Employees Provident Fund (EPF) Scheme and Employees State Insurance Corporation experiencing a decline in new enrollments. The EPF scheme saw a 6% drop in new enrollments, while the ESIC, catering to lower-paying jobs, saw a 4.7% decline.

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Ministry says move not solution to ease financial burden of the people.

KUALA LUMPUR: The School Upgrading and Redevelopment Project was implemented in only 25.6%, or 386 out of 1,505 schools nationwide, which were identified as having dilapidated buildings, according to the Auditor General’s Report 2022.

The private sectors default on provident fund dues with the Employees Provident Fund Organisation (EPFO) has increased by almost 10% over the last five years, resulting in arrears of over Rs 15,000 crore for the retirement fund body in 2022-23. The majority of these defaults occurred in the first two years of the pandemic.

KUALA LUMPUR: The government has agreed to study the proposal for a phased expansion of social protection coverage to the working-age population of Malaysia reaching 18 years old to ensure old age income security from 2024 onwards.

KUALA LUMPUR: The third Employees' Provident Fund (EPF) account, or “flexible" account, will be implemented in April 2024, said Datuk Seri Ahmad Maslan.

Introducing this default daily limit is part of CPF Board’s efforts to safeguard CPF savings against fraudulent online withdrawals.