Lestari Account News Today

YET another special Covid-19-related withdrawal from the Employees Provident Fund (EPF) Account 1 has been given the green light by the government last Wednesday (March 16). EPF members can prematurely withdraw up to RM10,000 from their retirement kitty and have the money credited into their bank account from April 20.

ON Feb 27, private sector wage earners were happily surprised when the Employees Provident Fund (EPF) declared dividends for 2020 — 5.2% for conventional savings and 4.9% for shariah savings — even though both figures were lower than 2019. Last year, not only did at least five million members save less money and tap into their retirement kitty to alleviate pandemic-related cash-flow strains, but even those who did not have to use those savings were concerned about dividends being hit by EPF...

THERE was a good chance of the Employees Provident Fund reaching RM1 trillion in assets this year, had it not been for the Covid-19 pandemic and economic hardship that nudged the government to allow the unprecedented withdrawal of funds that were previously off limits until members reach age 55. For those who do not need to withdraw money from their EPF accounts, one key question is likely whether a smaller fund size would mean a higher return on investment and higher dividends. Would the rever...

27 Feb 2021 / 13:50 H. Bernama KUALA LUMPUR, Feb 27: The Employees Provident Fund (EPF) said to date, a total of RM18.1 billion has been withdrawn by 5.16 million members under the i-Lestari facility, which was among the immediate measures undertaken by the fund amid the challenging situation in 2020 due to the pandemic. It stepped in to help members and employers cope with cash flow issues following the Movement Control Order from March 18 to May 12, 2020 when most economic sectors were clo...

KUALA LUMPUR (Feb 27): Despite higher withdrawals amid the pandemic, the “market value” of the Employees Provident Fund (EPF)’s total investment assets hit RM1.016 trillion on Dec 3 last year. Yet the provident fund is not celebrating because some 30% or about 1.6 million of its members may withdraw almost all of their savings from Account 1 while another 60% or 3 million members “have or will use up all savings in Account 2”, its outgoing CEO Tunku Alizakri Alias said. For the record...

Saturday, 27 Feb 2021 02:33 PM MYT The EPF ensured that employers were able to sustain their costs and continue to retain their employees by offering the Employer Covid-19 Assistance Programme, specifically targeted at small and medium enterprises. — Picture by Hari Anggara Subscribe to our Telegram channel for the latest updates on news you need to know. KUALA LUMPUR, Feb 27 — The Employees Provident Fund (EPF) said to date, a total of RM18.1 billion has been withdrawn by 5.16 million memb...

IF the darkest hour is just before the dawn, things are looking pretty downbeat now, with the second round of the Movement Control Order (MCO 2.0) — which started out in five states and three federal territories on Jan 13 — expanded to the whole country except Sarawak until at least Feb 4.

THE Employees Provident Fund (EPF) should have no problem paying a 4% dividend for 2020, going by the income it made in the first nine months of last year, The Edge’s estimates show. That’s easily double the prevailing fixed deposit rates offered by banks. It is likely that the EPF is working hard to pay more than a 4.5% dividend for 2020 to avoid dipping below the 4.5% it paid in 2008 — its lowest on record in the past 12 years. Going by the RM37.83 billion net investment income that the...